Loop: Carrier Audit and Payment FAQs

What is Loop?

• Loop is an audit and payment platform that reduces the complexity of processing and paying carrier invoices. We strive to improve transportation spend visibility to streamline workflows and enhance financial ops.

Account Setup

• How do I transition from Epay to Loop?
  • You will receive an email invitation from [e-mail] with a secure link to add your banking information. The email invite will be sent weekly until it is completed to the billing email identified on your profile from Highway.  The link is secure and will only work for the recipient of the email.  You will not be able to forward this email.
• I’m a new carrier. How do I set up my Loop account?
  • Upon approval from the Compliance department, an onboarding email will be sent from [e-mail] with a secure link to add your banking information. The email invite will be sent weekly until it is completed to the billing email identified on your profile from Highway.  The link is secure and will only work for the recipient of the email.  You will not be able to forward this email.
• What if I need to change who the onboarding email will go to?
  • Please submit a ticket to the Emerge Help Desk and we will address this within 48 hours of submission.

Onboarding Canadian Banking Carriers - this applies to NON-US Bank Accounts:

• How do I complete the onboarding process with a Canadian bank account?
  
  • Existing Carrier - No Action Needed. Your information will be transferred to Loop’s system
  • New Carrier - Please submit a ticket to the Emerge Help Desk with your banking information and W-8-ben-e.  You will not be able to enter any foreign bank account information in Loop at this time.  If you complete the onboarding process without submitting a ticket to the Emerge Help Desk, the payments will fail which can cause payment delays.

FAQ – Carrier Invoicing with Epay (Rate Confirmations dated Jul 7, 2024 and prior)

• How do you submit invoices and supporting documentation?
  • You must upload your invoice packet with POD/BOL, and any other supporting documentation within 10 days to Epay.  There is no change from our previous process with Epay.  If you email your invoice packet to [e-mail], payment delays may occur.

Example of Rate Con for payment processing in EPay

FAQ – Carrier Invoicing with Loop (Rate Confirmations dated Jul 8, 2024 and after)

• How do you submit invoices and supporting documentation?
  • Create a packet that includes invoices, BOL, and any supporting documents (“Packet”). Loop processes the documents and pays directly to your bank account. 
  • Email the Packet to: [e-mail] Send documentation in one packet, please refrain from sending one-off documents as it may result in processing and payment delays.
  • Note: there is no carrier portal/login to upload documents in Loop
• Are invoices required?
  • Yes, invoices are required.  Any Packet without an invoice will be rejected and payment delays may occur.
• How do you receive updates for invoices that are in progress? 
  • You will not receive automatic notifications once the packet has been submitted or on the status of the invoice.  If you have any questions or concerns with an invoice contact Emege via submission of a ticket.  You will be paid 30 days from date of invoice submission and once the Packet is accepted by Emerge
• Who do I notify that I have updated the Factoring company, and what information is needed? 
  • Email [e-mail] with the NOA and LOR documents. Once the new factor is updated you will receive an email confirmation 
  • This will be completed within 24-48 hours of receipt, excluding weekends and holidays.

Example of Rate Con for payment processing in Loop

Payment Information

• How do you onboard and set up receiving payments with Loop?
  • You will receive an email invitation with a secure link to add banking information to Loop’s system. This email may not be forwarded to another recipient.  If you need to change who the recipient of the onboarding email is, please submit a ticket to our help desk.
• What is the payment remittance process?
  • Once Emerge’s payment is released, you will receive an email confirming the details to the remittance email on file.
• What if my bank information or contact information changes?
  • Please submit a ticket to our help desk and they will re-trigger the onboarding email to you within 48hrs. This email will contain a link to allow you to update your information.
• What is Quickpay?
  • Quickpay is a payment service provider that expedites payments at a discounted rate.
  • Terms - 2% discount for payment at two days from invoice received date, excluding weekends and holidays.  For payments being processed out of EPay, the discount will remain 3%.
  • Note:  Quickpay enrollment with Loop is at the carrier level and is not applied to individual invoices.  This is a change from our previous process with Epay
• If I was already enrolled in Quickpay with EPay, am I automatically enrolled in Quickpay in Loop?
  • No, you must re-opt into Quickpay with Loop.
• How do you enroll or opt out of Quickpay in Loop?
  • Email: [e-mail] to enroll or opt out of Quickpay.  Please allow up to 48 hrs to process any change for Quickpay.  Opting in or out of Quickpay will only affect payments that are not already approved for payment in Loop.  You will receive a confirmation email once enrolled or opted out.

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