Overland Park, KS, January 4, 2018 – MSTS has been accepted as a member of BiTA, the Blockchain in Transport Alliance, to aid in the creation of benchmark standards and begin to extract the full potential of the technology in the transportation industry.
BiTA is the forum for the advancement of blockchain in transportation, guiding the infrastructure to be the leading blockchain voice providing more clarity and benchmark standards through education and promoting the technology. Members know blockchain is the way of the future and agree to usher the evolution to benefit the entire industry.
MSTS is a leader in technology-focused payments solutions for the transportation industry with nearly four decades of experience in National Account Management for OEM’s, Fuel Payment Solutions and Tolls. The full spectrum of payment solutions offered by MSTS aligns with BiTA to address major issues surround freight payments. Collecting and settling payments can be a painful process with archaic systems and security issues. The first set of standards will be developed and published next year.
“We are excited to offer our technical expertise in payment solutions to BiTA to help solve problems facing the global logistics industry,” said Brandon Spear, President of MSTS. “MSTS has a proven track record of innovation through technology and our BITA membership further solidifies our commitment to leveraging blockchain technology for the transportation industry.”
Blockchain is an emerging technology that will enable transparency and security for online transactions in a cost-effective way. We look forward to participating in, and developing, an open dialogue of thought leadership and standardization of blockchain in trucking, transportation and logistics.
MSTS, a wholly-owned subsidiary of World Fuel Services Corporation, is a global billing and payments solution company that specializes in commercial transaction management. MSTS is headquartered in Overland Park, Kansas with offices in Melbourne, Australia and Rijswijk, the Netherlands. MSTS currently facilitates transactions for its customers in more than 190 countries and territories. MSTS has over 35 years of experience underwriting businesses for credit and is currently providing underwriting in 52 countries. MSTS has a long history of creating and supporting closed-loop commercial billing and payment programs that include both proprietary, branded card products and white-labeled, net-pay and pre-paid card programs around the world in a number of industries, including aviation.