Online freight management provider Freightlist.com has activated its new Epay system, an Internet-based electronic payment system available to all shippers, third parties, carriers and independent truckers.

Epay is designed to debit a shipper's, broker's or freight forwarder's bank account for any approved transaction and credit the bank accounts of up to three payees simultaneously, the company said. Epay is designed to increase cash flow and reduce paperwork between these parties, by electronically generating invoices, proof of delivery documents and processing payments.

"Receiving payment in a timely manner is crucial for any trucking company to remain operational. Any way for a trucker to increase their cash flow is of great benefit, especially in this era of high fuel costs and other expenses," said Freightlist.com president Tom Whaley.

Besides giving shippers and carriers access to an online payment system, Epay also creates rate agreements, tracks payments and links proof-of-delivery documents to electronic invoices and stores historical information. The company added that using Epay does not require long-term contracts, a minimum number of transactions or monthly fees.