BasicBlock Accelerates Truck Driver Payments with Instant Transfers, Processing Nearly 40% of Transactions through the RTP® Network
BasicBlock leverages Dwolla's instant payment capabilities and The Clearing House’s RTP® network to transform freight factoring, delivering immediate funds to thousands of truck drivers nationwide.
Revolutionizing Freight Factoring with Instant Payments
BasicBlock, a freight factoring company serving thousands of truck drivers across the United States, has fundamentally transformed how drivers get paid for their deliveries. In an industry where traditional payment terms can stretch 30, 60 or 90 days, BasicBlock leverages Dwolla's payment platform to access The Clearing House's RTP network, delivering instant payments that keep America's supply chain moving.
BasicBlock's partnership with Dwolla represents a powerful example of how instant payments can drive financial inclusion and operational efficiency in traditional industries. For truck drivers, many of whom are underbanked and without access to traditional credit, receiving payment instantly after completing a trip can mean the difference between filling up for the next haul or being stranded at a gas station.
"Trucking is a cash-intensive business," said Taylor Monks, CEO of BasicBlock. "These drivers are hauling 8 to 15 loads a month. That's thousands of miles and lots of gas, maintenance and lodging. They can't wait to get paid. That's not feasible for a lot of these drivers."
From Basement Startup to Industry Disruptor
When BasicBlock launched in 2018, the freight factoring industry presented significant challenges. Large shippers negotiated payment terms of 120-180 days, passing these delays down through brokerages to the drivers at the end of the chain. Traditional factoring companies charged excessive fees while ACH payments took 2-3 days to process. BasicBlock recognized these issues and launched with a simple but ambitious mission: Pay truck drivers faster, period.
"Factoring companies were taking advantage of these trucking companies," explained Monks. "I grew up with payment apps, so instant payment has always been the standard for me. We felt this is what it should be for truck drivers, too."
BasicBlock needed a payments partner that could deliver true instant payments at scale with the reliability and support necessary for a business where payment failures could leave drivers stranded across the country.
A Partnership Built on Speed and Reliability
BasicBlock selected Dwolla in 2021 and has never used another payment provider. The exclusive partnership provided immediate access to The Clearing House's RTP network, enabling BasicBlock to transform from manually writing checks to automating instant payments that could scale with their growth.
Despite regular approaches from competitors, BasicBlock remains committed to Dwolla. For BasicBlock, the user experience is paramount. "Dwolla works." Monks said. "Our chief technology officer has worked with APIs from other companies and Dwolla stands out because we know it works and it's going to work. Dwolla's support team is incredible and we have access to real-time updates so we always know what's happening."
The implementation has delivered multiple critical capabilities:
- Instant fund availability: Drivers receive payments within seconds, 24/7/365
- Seamless integration: Dwolla's API enabled rapid deployment with minimal technical complexity
- Exceptional reliability: Critical for drivers who depend on immediate access to funds
- Comprehensive support: Responsive assistance when issues arise
- Cost-effective pricing: Enabling BasicBlock to pass savings to drivers
Driving Real Results for the Future
The impact of Dwolla-powered instant payments on BasicBlock's business and their drivers has been transformative:
- Nearly 40% of all transactions now process through the RTP network
- Invoices are funded in minutes with streamlined processing
- Thousands of drivers actively use the platform
- High retention rates: Drivers rarely leave the platform once onboarded
- Strong referral growth: Word-of-mouth recommendations drive new customer acquisition
- Financial inclusion: Immigrant, underbanked and other underserved drivers gain access to immediate funds without traditional banking relationships
For drivers who previously relied on check-cashing services charging high fees or payday loans to bridge cash flow gaps, instant payments through BasicBlock represent both immediate financial relief and long-term financial wellness. "Instant isn't the future. It's the past," Monks noted. "Many of our truck drivers want access to real-time payments and will switch banks to gain that access. Dwolla helps us meet those standards and move money fast."
The broader impact extends beyond individual drivers. "Small businesses, consumers—everybody expects instant payments nowadays," Cheryl Gurz, Vice President of RTP Product Commercialization at The Clearing House, said. "We see people using digital wallets and other solutions to create that experience, but you still have lags. That's where RTP comes into play and actually provides an instant transfer. The money's in, you can use it, you can withdraw it, pay a bill off of your balance right away. It's a better experience."
The Clear Choice for Instant Payments
As BasicBlock continues to scale, their exclusive partnership with Dwolla remains the foundation of their value proposition. BasicBlock's success demonstrates that choosing the right payments partner isn't just about pricing. It's about reliability, support and the ability to deliver on promises to customers. With Dwolla powering their instant payments and The Clearing House's RTP network providing the rails, BasicBlock can help ensure the truck drivers who keep America moving don’t have to wait for the funds they've earned.
