Vahak, India’s largest online load & lorry marketplace, has launched an in-app payment feature – Vahak Payments. Through this, it aims to secure and simplify payments made by shippers to lorry drivers/owners.
The Indian logistics sector has always been seen as an underdog, despite being one of the largest transport ecosystems in the world whilst also boosting India’s economy. Challenges like lack of standard and safe payment systems have been holding this field down. In a sector dominated by SMEs, brokers and single-person businesses, the flow of money is often very haphazard. This sometimes leads to frauds, denial of payments, thefts and other similar problems.
This predicament has led to there being a prevalent lack of trust in this industry, which compels shippers and transporters to operate within their limited circles to avoid getting cheated on. As a result of this, truck drivers aren’t able to expand their business’ reach and shippers aren’t able to find favourable rates for transportation. Likewise, the lack of safety in other payment means has made it tougher for shippers to confidently pay truck drivers for their services. This is why Vahak has introduced Vahak Payments, to ensure transactions are safe and seamless.
Speaking about this, Karan Shaha, Co-Founder and CEO, Vahak, said, “Vahak is constantly addressing the challenges faced by transporters caused due to the lack of standardization in the transport sector. The truckers and shippers operating on our platform have been wary of the risks associated with their day-to-day financial transactions. Vahak Payments aims to simplify the ecosystem with its transparency and accuracy. Users can easily bid on loads and lorries of their choice and pay right away on the app. This saves them the hassle of making or requesting payments through cash or other means, and ensures that the entire transaction is safe. By using Vahak Payments, shippers/load owners will be able to pay lorry drivers through a milestone-based escrow system. This system ensures that payments happen safely and on time. Truck drivers will also be able to request and obtain advance payments for their trips easily! Vahak Payments will plug the gap caused by the lack of a standardized, comfortable, and digital payment infrastructure. We envision helping millions of Indian truckers through this service in the times to come.”
Vahak is powered by cutting-edge technology and a vision to empower the lakhs of transporters currently struggling in India. The Vahak web and mobile app enables customers to directly interact with trusted shippers and transporters for booking loads and lorries online. Vahak is currently 100% free-to-use and charges no commissions on bookings! With a growing user base of over 10 lakh transporters, Vahak is on a mission to improve the working conditions for all the participants in this sector!