Business Factors & Finance Announces Launch of Freight Payment Shield®

Business Factors & Finance, a well-known fintech services company operating in the US and Canada, announces the launch of Freight Payment Shield, a premier payment protection service for trucking and transportation companies, as well as for small and medium-sized enterprises (SMEs) sending and receiving shipments throughout North America. Freight Payment Shield offers due diligence protection from the risk of commercial credit loss to protect businesses from common oversights, such as entering into service agreements with high-risk payment processing agents, as recently exposed by the shock bankruptcy of IPS Worldwide, LLC. For those unfamiliar with the story, as the Wall Street Journal reported on February 7, 2019: IPS processes more than 35 million invoices annually worth more than $8 billion, according to its website. When it filed for bankruptcy Jan. 28, IPS alarmed creditors by listing liabilities of between $100 million and $500 million and assets of less than $50,000. Days later, the company amended its bankruptcy petition, but it left blank the sections estimating its total assets and liabilities.