How much does quick pay cost?

Quick pay fees typically range from 1% to 5% of the invoice value, with most major brokers charging between 1.5% and 3%. The exact fee varies by broker and the speed of payment. Some brokers offer tiered quick pay where faster payment costs more -- for example, 1.5% for payment in 5 days or 2.5% for next-day payment. Unlike factoring, quick pay has no monthly minimums, setup fees, or contracts.

Is quick pay better than factoring?

Neither is universally better. Quick pay works well for occasional use since there are no contracts or commitments. Factoring is better for carriers who need consistent fast payment on all or most invoices, as volume discounts typically bring the per-invoice cost below quick pay rates. The main advantage of quick pay is simplicity -- no application process, no reserve holdbacks, and no third party involved in your broker relationship.

Do all brokers offer quick pay?

No. Quick pay is offered by many large and mid-size brokers but is not universal. Major brokers like CH Robinson, TQL, Echo, and Coyote offer quick pay programs. Smaller brokers may or may not have quick pay available. You need to ask each broker about their quick pay terms before accepting a load if fast payment is important to your cash flow planning.

Can I use quick pay and factoring together?

Yes, but not on the same invoice. You can use quick pay for loads from brokers that offer it and factor invoices from brokers that do not. This hybrid approach can optimize your cash flow costs since you use whichever option is cheaper for each invoice. However, some factoring contracts require you to factor all invoices from certain brokers, so check your factoring agreement for exclusivity clauses.

Quick Pay in Trucking Explained

What Is Quick Pay

Quick pay is a payment acceleration service offered directly by freight brokers.[^1] Instead of waiting the standard 30 to 45 days for payment after delivering a load, carriers can opt into quick pay and receive payment in 1 to 7 days. The broker deducts a percentage fee from the invoice as the cost of faster payment.

Quick pay is different from freight factoring. With quick pay, the transaction stays between you and the broker. No third-party factoring company is involved. The broker simply pays you faster and keeps a percentage for doing so.

For carriers evaluating their cash flow options, understanding the differences between quick pay and factoring is important. Each has advantages depending on your situation. See our detailed factoring vs quick pay comparison for a full side-by-side analysis.

How Quick Pay Works

The process is simple:

You deliver a load and submit your paperwork to the broker
You elect quick pay on that specific invoice (usually through the broker's carrier portal)
The broker processes your payment on an accelerated timeline
You receive the invoice amount minus the quick pay fee

There is no application, no contract, and no credit check. Quick pay is available on a per-load basis through brokers that offer it. You can use it on one load and skip it on the next.

Example

You deliver a $3,000 load for a broker offering quick pay at 2%. You elect quick pay through their portal. Within 2-3 business days, you receive $2,940 ($3,000 minus the $60 quick pay fee). Without quick pay, you would wait 30 days to receive the full $3,000.

Quick Pay vs Factoring

Both quick pay and factoring solve the same problem: getting paid faster.[^2] But they work differently and have different cost structures.

Quick Pay Advantages

No contracts or commitments
No application or setup process
No reserve holdback -- you get the full amount minus the fee
No third party managing your broker relationships
Simple, per-load decision

Quick Pay Disadvantages

Only available from brokers that offer it
No broker credit checks or protection
Fees may be higher than volume factoring rates
No fuel card programs or additional services
Cannot use for loads from brokers without quick pay

Factoring Advantages

Works with any broker, not just those offering quick pay
Volume discounts bring down per-invoice costs
Broker credit checks protect you from bad-credit brokers
Fuel card discounts and additional services
Non-recourse options provide bankruptcy protection

Factoring Disadvantages

Contracts, sometimes with minimums and termination penalties
Reserve holdback reduces immediate cash (90-97% advance rate)
Setup time and application process
Factor communicates directly with your brokers

When to Use Quick Pay

Quick pay makes the most sense in several scenarios:

Occasional cash flow gaps. If you generally have good cash flow but occasionally need faster payment on specific loads, quick pay gives you flexibility without a factoring commitment.

Low invoice volume. If you only factor a few invoices per month, the per-invoice cost of quick pay may be comparable to factoring after accounting for factoring minimums and fees.

Working with major brokers. If most of your loads come from large brokers with quick pay programs, you may not need a separate factoring relationship.

Supplementing factoring. Some carriers factor most invoices but use quick pay for loads from specific brokers where the quick pay fee is lower than their factoring rate.

Typical Quick Pay Rates by Broker

Quick pay fees vary by broker and payment speed. Large brokers commonly charge:

Next-day payment: 2.5% to 5%
2-5 day payment: 1.5% to 3%
7-day payment: 1% to 2%

These rates can change, so verify current terms directly with each broker. Some brokers have reduced their quick pay fees in recent years to attract carriers, while others have increased them.

For a full comparison of the costs, benefits, and decision framework between these two cash flow tools, see our factoring vs quick pay guide. To compare factoring companies and their rates, visit our comparison page.

Frequently Asked Questions

How much does quick pay cost?: Quick pay fees typically range from 1% to 5% of the invoice value, with most major brokers charging between 1.5% and 3%. The exact fee varies by broker and the speed of payment. Some brokers offer tiered quick pay where faster payment costs more -- for example, 1.5% for payment in 5 days or 2.5% for next-day payment. Unlike factoring, quick pay has no monthly minimums, setup fees, or contracts.
Is quick pay better than factoring?: Neither is universally better. Quick pay works well for occasional use since there are no contracts or commitments. Factoring is better for carriers who need consistent fast payment on all or most invoices, as volume discounts typically bring the per-invoice cost below quick pay rates. The main advantage of quick pay is simplicity -- no application process, no reserve holdbacks, and no third party involved in your broker relationship.
Do all brokers offer quick pay?: No. Quick pay is offered by many large and mid-size brokers but is not universal. Major brokers like CH Robinson, TQL, Echo, and Coyote offer quick pay programs. Smaller brokers may or may not have quick pay available. You need to ask each broker about their quick pay terms before accepting a load if fast payment is important to your cash flow planning.
Can I use quick pay and factoring together?: Yes, but not on the same invoice. You can use quick pay for loads from brokers that offer it and factor invoices from brokers that do not. This hybrid approach can optimize your cash flow costs since you use whichever option is cheaper for each invoice. However, some factoring contracts require you to factor all invoices from certain brokers, so check your factoring agreement for exclusivity clauses.

Sources & References (2)

Government

SBA — Financing Options: Invoice Factoring

sba.gov ↗

Industry

American Transportation Research Institute — An Analysis of the Operational Costs of Trucking (2023)

truckingresearch.org ↗