Funding from industry leaders solidifies QuikQ’s place as an independent, fast-growing payment solutions provider amid trucking industry’s fuel payments marketplace.
FRANKLIN, Tennessee—(July 9, 2019) – QuikQ, LLC (QuikQ), an independent full-service fuel payment solutions provider founded in 2008, announced today strategic investments by truck stop and truck maintenance industry leaders Love's Travel Stops (Love's) and TravelCenters of America LLC (Nasdaq: TA) (TA).
With the financial backing of Love’s and TA, QuikQ is strategically poised for continued growth and expansion in the fuel payments marketplace, where the Tennessee-based company has a nationwide network of more than 3,400 chain and independent merchant locations to serve its customers. The network is further solidified through long-term agreements QuikQ has with all of the country’s largest truck stop operators.
QuikQ will continue to operate as an independent company, focused on saving customers time and money. Investments by Love’s and TA enable QuikQ to grow its streamlined approach to building more direct, transparent relationships between merchants and carriers and their payment solutions provider.
“QuikQ offers high-quality products designed to compete in the fuel payments industry. With Love’s and TA as investors, QuikQ brings immediate competition in the fuel payments marketplace while minimizing costs for our merchant and trucking company customers,” said QuikQ Chief Executive Officer Dean Troester, a 36-year trucking industry veteran who joined the QuikQ team in that capacity in early 2017.
In addition to QuikQ’s own fuel payment card, the company’s technology also supports other universally-accepted co-branded and private label cards, including cards for Love’s and TA. The long-term success and growth of these platforms provides QuikQ proven experience to better serve the trucking industry.
“QuikQ has been the successful, cost-effective backbone of our Love's Express payment platform for many years. A large segment of our customers have benefited from the convenience and savings QuikQ’s technology provides, and QuikQ can deliver the same advantages across the trucking industry,” said Frank Love, co-CEO of Love’s and Speedco. “QuikQ offers trucking companies another choice.”
“With the financial support of two of the truck stop industry’s largest players and nationwide merchant acceptance of its products, QuikQ is positioned to add competition to the fuel payment industry, improve customer service, and reduce fees to merchants and fleets,” added Andy Rebholz, CEO of TA. “Competition is needed, and QuikQ is positioned to positively impact merchants and trucking companies alike.”
QuikQ offers a full suite of payment products, including a fuel payment card; SmartQ, an RFID based card-less system; and Start Code, a card-less payment solution. QuikQ’s fuel payment solutions increase accountability, efficiency and convenience for professional truck drivers.
For fleets and drivers, QuikQ offers Q-Checks, cash advances, payroll cards, a mobile app and more, all designed to better manage transportation-related fuel payment costs. QuikQ’s technology is integrated with the major transportation management systems. For merchants and other parties, QuikQ also offers its RFID hardware and technology, along with private label and co-branded cards.
Based in Franklin, Tennessee, QuikQ is a full-service fuel payment solutions provider that executes payment transactions through a streamlined approach that can reduce fees and create a more direct, transparent relationship among merchants, carriers and their payment solutions provider. QuikQ’s established suite of state- of-the-art solutions includes a fuel payment card; SmartQ, a radio frequency identification (RFID) based card-less system; Start Code, a card-less payment solution that processes transactions initiated with unique identifier codes; a mobile app and other products. QuikQ offers efficiencies, savings and convenience and has a nationwide network of accepting merchants, including the three major truck stop chains and many independent truck stops. For more information, please visit www.quikq.com.
About Love’s Travel Stops
One of the nation's industry-leading travel stop networks with 490 locations in 41 states. Founded in 1964 and headquartered in Oklahoma City, Oklahoma, the company remains family-owned and operated and employs more than 24,000 people. Love's provides professional truck drivers and motorists with 24-hour access to clean and safe places to purchase gasoline, diesel fuel, fresh coffee, restaurant offerings and more. Love's has more than 350 service centers, which include Speedco and on-site Love's Truck Tire Care locations. Love's and Speedco combined is the largest oil change, preventative maintenance and total truck care nationwide network on the road. Love's is committed to providing Customers with "Clean Places, Friendly Faces" at every stop. To learn more, visit loves.com.
About TravelCenters of America LLC
TravelCenters of America LLC (TA), headquartered in Westlake, Ohio, conducts business in 43 states and Canada, principally under the TA®, Petro Stopping Centers® and TA Express® travel center brands. TA’s travel center business includes 258 locations. The TA Truck Service network includes 245 truck service facilities nearly 1,100 repair bays, nearly 3,000 technicians with certifications in ASE and TIA, a fleet of more than 2,600 RoadSquad® and third party provider service trucks and over 200 Tech OnSITETM mobile maintenance vehicles. TA Truck Service is an authorized Freightliner Trucks and Western Star Trucks warranty provider. The TA Restaurant Group includes more than 600 quick service restaurants, full service restaurants and ten proprietary restaurant brands including Quaker Steak & Lube®, Iron Skillet and Country Pride. The TA Restaurant Group is a division of TravelCenters of America LLC. For more information on TA, TA Express, Petro, TA Truck Service and the TA Restaurant Group, please visit www.ta-petro.com.
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