GREEN BAY, Wis. — Schneider Logistics, Inc., has changed the name of its freight payment company to Schneider Logistics Payment Services, effective immediately.

Schneider Logistics Payment Services manages the flow of funds through customers’ supply chains — providing a payment platform that delivers high volume, low cost transaction processing.

Formerly known as Tranzact Payment Services, the operation offers a variety of services, including transaction audit, processing and payment; accrual and accounting functions; rate library creation; multi-media and customized reporting; auto pay services; online interfaces; and international payment capabilities.

Schneider Logistics Payment Services processes 75 per cent of its freight bill volume in the Electronic Data Interchange (EDI) environment, making the company the largest processor of EDI freight bills in the U.S.

“One year ago, we combined our expertise with that of Tranzact to create a leading freight payment company,” said Chris Lofgren, CEO of Schneider Logistics. “In the year since, we’ve combined our operations and strengthened our technology. Now, it’s time to change the name of this business unit to better reflect its significance in our strategy of serving customers.”