NEW YORK CITY — Koffie Financial has launched a first-of-its-kind credit card built specifically for trucking fleets. The Koffie Card is available through a partnership with Power, a credit card issuance platform focused on the commercial space.
“The trucking industry is responsible for transporting 80% of goods in the US and generates over $700B in annual revenue yet continues to be wholly underserved in the credit market today,” said Mike Dorfman, co-founder and COO of Koffie. “Existing card solutions for truckers are debit only and miss the mark on controlling expenses and aligning financial incentives. The Koffie Card was tailor-made to provide truckers the first credit card that comes with the tools and financial benefits to weather increasing cost pressures in their businesses.”
In addition to incentives enabled through credit card interchange revenue, the offering will also include spend management and expense tracking capabilities, offered natively within Koffie’s platform.
“Now, more than ever, verticalized financial solutions are critical to support the unique needs of specific and important industries such as trucking, which is already hyper-margin-sensitive,” said Randy Fernando, founder and CEO ofPower. “Together, Koffie and Power have filled a very real need in the market through best-in-class cash back incentives and workflow management tooling, all embedded within a modern credit card product.”
To learn more about the Koffie Card, visit www.getkoffie.com.
The Trucker News Staff produces engaging content for not only TheTrucker.com, but also The Trucker Newspaper, which has been serving the trucking industry for more than 30 years. With a focus on drivers, the Trucker News Staff aims to provide relevant, objective content pertaining to the trucking segment of the transportation industry. The Trucker News Staff is based in Little Rock, Arkansas.