Freight-Tech Meets Fin-Tech with Victor Ofstein

Joe Lynch and Victor Ofstein discuss freight-tech meets fin-tech. Victor is the Head of Strategic Partnerships at Melio where he brings Melio's seamless online payments to the logistics and transportation industry.

About Victor Ofstein

Victor Ofstein is the Head of Strategic Partnerships at Melio, a company that is bringing freight-tech to fin-tech. Victor is a technology executive with rich experience and proven success in startup, growth and large companies, holding customer-centric, operational, and executive roles. Victor’s experience in technology, logistics, and finance enable him to deliver fin-tech solutions to his transportation and logistics customers. Prior to joining Melio, Victor spent the last decade introducing innovation and technology to the freight and logistics industry. Victor earned a Bachelor of Arts at the University of London.

About Melio

Melio is an online accounts payable solution that allows businesses to conveniently make ACH bank transfers, debit card, and credit card payments to their vendors. Melio syncs seamlessly with QuickBooks, automatically adding payment transactions to be processed in a dedicated app for scheduled automatic recording and recurring billing. Melio was created with small business owners in mind to make vendor payments and get paid as simply as possible. Melio makes paying vendors easy and hassle-free by allowing small businesses to make their payments by ACH bank transfer, credit card, or debit card, even if the vendor they are making the payment to only accepts checks. Using Melio to pay vendors is easy.

Key Takeaways: Freight-Tech Meet Fin-Tech with Victor Ofstein

Victor Ofstein is the Head of Strategic Partnerships at Melio, a company that is bringing fin-tech to freight-tech.
According to Victor, the number one question in transportation and logistics is “Where is my stuff?” The number two question in transportation and logistics is “Where is my money?”
Victor and the team at Melio are making it easier for transportation and logistics companies to make and receive payments.
In our personal lives, we have gotten use to consumer payment technologies that make getting and receiving money very easy. In our professional lives, payments are often a hassle with an over-reliance on checks and snail mail.
Given the importance of cash flow and on-time payments to carriers, brokers, and 3PLs partners, companies need the flexibility, speed, and convenience of fin-tech – similar to the consumer experience.
Melio is the simplest way to pay vendors and contractors.
With Melio, companies can pay any invoice with a bank transfer for free, or use their credit card to defer payment (2.9% fee). Vendors receive a check or a bank deposit.
In addition, Melio’s technology integrates into transportation management systems which makes payments and accounting even easier.