Latest News from Truss
Update

Updated Launch Date for Banking Partner Transition

Matthew avatar
Shared by Matthew • July 28, 2023

Dear Valued Customer,

We are excited to bring you an important update regarding the transition of our banking partner and the launch of enhanced benefits at Truss.

We have diligently worked to finalize all necessary arrangements with Thread Bank, and we are now pleased to announce that the new launch date is set for Wednesday, August 9th, 2023!

Once the transition takes place on August 9th, you can look forward to enjoying the following enhanced benefits:

  • $2.5M FDIC insurance provided through Thread Bank
  • Increased flexibility for tier limits
  • Faster withdrawals and payables

Note: Outgoing payments set to process on the transition day will be delayed by one business day. This is a one-time delay due to the bank partner change.


As we proceed with the transition, we want to highlight a few important action items for you to keep in mind:

1. Approve updated service agreements

We are updating the following user agreements to support banking partner changes:

You will be prompted to agree to the updated agreements upon logging in to your Truss account. To ensure a smooth transition, please review and agree to the new terms by Thursday, August 3rd, 2023.

Note: We will close accounts setup with our previous bank partner on August 23rd, 2023. To keep using Truss, you are required to agree to open a new account with Thread Bank before August 9th, 2023.


2. Reissuing of cards

Due to the banking partner change, we will need to reissue all existing cards for our users. Your current cards will stop working after the transition. Rest assured, we will contact all cardholders directly to assist with the transition.

To receive your new card before the transition, please ensure to accept the new cardholder agreement through your Truss dashboard by August 3rd.

Note: New cards will need to be activated through the dashboard before you can use them.


We understand that these changes may raise questions or concerns, and we want to assure you that our team is available to assist you every step of the way. If you have any inquiries or need further information, please don't hesitate to reach out to our support team.

Thank you for choosing Truss as your trusted banking and payments partner. We will be in touch very soon with additional details about the launch on August 9th.

Best regards,

Matthew Smith

CEO & Co-Founder

Truss


Truss is a financial technology company and not a bank. Banking services are provided by Thread Bank, Member FDIC. Visa® Cards are issued by Thread Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa is accepted.


Update

Important Announcement: Banking Partner Change & Enhanced Benefits

Matthew avatar
Shared by Matthew • July 25, 2023

Dear Valued Customer,

We are excited to inform you of an important change at Truss that will significantly improve our banking and payment services.

Effective August 9th 2023, we will transition our banking partner from Blue Ridge Bank to Thread Bank.

We are currently working diligently to finalize the new launch date, and we will inform you as soon as possible once we have the updated information.


What this means for you

Enhanced FDIC insurance

Thread Bank is a member of the FDIC, and we are excited to announce that with this change, we can offer you enhanced FDIC insurance coverage of $2.5 Million on your account with us – no action required by you. When we open your account on Thread, it will automatically have $2.5M of FDIC coverage.


Increased flexibility for tier limits

We have increased limit tier flexibility to make sure you're able to run and grow your business, without worrying about limits. Please contact your account manager if you would like to learn more about increasing your account limits.


Faster withdrawals and payables

Our partnership with Thread Bank allows us to start processing outgoing ACH payments on the same day as initiated, which accelerates deposit times of outgoing payments by up to two business days.


Reissuance of cards

As a result of this banking partner change, we will need to reissue all existing cards for our users. Your current cards will stop working after the transition on August 9th.

We will contact all cardholders directly to assist with the transition.


Updated service agreements

We are updating our Business Deposit Account and Cardholder agreements to support banking partner changes. These agreements will be available online for review.

All users are required to approve the new agreements by August 3rd, 2023. You will be prompted to review and accept the updated agreements upon logging in to your Truss account.

If you would not like us to transition your account to the new partner, please notify us immediately, as this will require us to close your account with Truss.

Note: We will close accounts setup with our previous bank partner. To keep using Truss and ensure a smooth transition, you are required to agree to open a new account with Thread Bank.


Launch of highly requested features

The change in banking partners unlocks the development of new, highly requested features, such as

  • Mobile check deposits – estimated August 2023
  • Sending checks to pay invoices – estimated September 2023
  • Lines of credit – estimated Fall 2023


We continuously strive to improve our services, and this transition marks a significant step towards delivering the industry's best banking and payment solution.

We value and listen to all feedback you share with us. Please don't hesitate to book a call with our team to learn more about this upcoming improvement or send us a message as we develop and launch new features.

Thank you for choosing Truss as your banking and payments solution. We are genuinely excited about the benefits this banking partner change brings to you and your business.

Best regards,

Matthew Smith

CEO & Co-Founder

Truss

Feature update

Manual Entry & Payment Reminders

Matthew avatar
Shared by Matthew • June 14, 2023

Hi there,

We've got some great news to share that will make your payment experience even better. At Truss, we're all about simplifying things for you, and we're thrilled to introduce two awesome updates:


1. Connecting a bank account by entering routing numbers

If you or your contacts prefer not to login to your online banking to make a payment, you can now manually enter routing information within our system to connect a bank account effortlessly. Manually connecting a bank account via routing numbers allows to make a payment without logging into a bank connection service.

Learn more about how Manual Entry works here.


2. Payment Reminders

Waiting for a client to pay an invoice? You can now send friendly reminders to your customers directly through our platform.

More details on how to send payment reminders here.


We always appreciate your feedback, and it's been instrumental in shaping these updates. If you need any help or have questions, don't hesitate to drop us an email or schedule a call with our team.

Thank you for your continued support!

Feature update

Payment Tracking & Estimated Deposit Dates

Matthew avatar
Shared by Matthew • May 31, 2023

Hi there,

Transparency in cash flow is vital for every construction business. At Truss, we understand this need and continuously strive to enhance your payment experience. That's why we're excited to introduce our latest feature:

Track the progress of your payments in real-time and view estimated deposit dates.

Whether it's payables or receivables, you now have complete visibility into the progress of your payments, from payment initiation to funds settlement. We've also included an estimated deposit date, enabling you to plan your finances more effectively.

Note: When a Receivable has the status 'Available' (like in the image above) the funds can be spent right away on a Payable transaction or on your Truss cards.

To check the progress of your transaction, go to the Receivables or Payables table in your dashboard and click on any transaction. A sidebar will open up that shows the payment status in real-time.


As always, if you have any questions or feedback, please do not hesitate to send us a message or schedule a call. Thank you for your continued support!

New feature

Product Update: Automated Receivables & Sales Permissions

Matthew avatar
Shared by Matthew • May 24, 2023

Hi there,

We are excited to share two new features that have been highly requested! Our team has launched the Quickbooks Online Integration for receivables and added a new permission level for sales staff. Here are the details:


Automated Receivables – QBO Integration

We've made it even easier for you to get paid! You can now sync your invoices from your Quickbooks Online account to your Truss dashboard. This allows you to import all outstanding invoices from QBO and automatically request payment through Truss.

When the payment's made, your invoice will be marked as paid in QBO and reconciled against your Truss general ledger account.

Learn more about how to set up and use Automated Receivables.


Sales Permission Level

We've got some great news for sales teams too! We've added a new permission level that lets you invite your sales staff to your Truss account and allow them to create payment requests. They can only view the payments they created.

Learn how to add users and set permission levels.


As always, if you have any questions or feedback, please do not hesitate to send us a message or schedule a call. Thank you for your continued support!

Best regards,

Matthew Smith
CEO & Co-Founder
Truss

Product update

Contact Filtering & Bill Payment Improvements

Matthew avatar
Shared by Matthew • March 29, 2023

We are thrilled to announce some recently added new and improved features to our product. Our team has been working hard to make our platform more user-friendly and efficient. Here are the details of the new updates:

Filtering Payments by Contact

You can now search for payables and receivables by contact name or email. This new feature allows you to easily view all payments associated with a specific contact, making it easier to track your payments and vendors.

Importing Vendors from QBO and Adding Direct Deposit Info

When importing and paying bills from your Quickbooks Online account, we match vendor email to Truss contacts. If a vendor does not have a matching email, you must create a new contact or select an existing one in the side panel.

Additionally, if you prefer to pay them via direct deposit, you can add your vendor's routing information right away and send funds directly to their account. Learn more here.

Re-sync Bills from Quickbooks

To get the latest status of your Quickbooks Online account, you can now easily re-sync your bills at any time on the 'Select bills' step.

Payment Total Now Visible on Bulk Payment Flow

When sending payments in bulk, the total amount is now clearly indicated on the 'Review payment' step.

As always, if you have any questions or feedback, please do not hesitate to contact us. Thank you for your continued support.

Update

We are changing our name to Truss today!

Matthew avatar
Shared by Matthew • March 13, 2023

Hi there,

Today is the big day! Last week we emailed you about an upcoming name change, and now it’s live.

But that’s not everything: With our new name and brand, we are also launching a highly requested new feature: Universal checkout links.

More below.


What the name change means for you

You can expect the same trusted platform with:

You can continue to use your existing MazumaGo cards for the time being. We will replace these in the next few months with new Truss cards.

There will be no service interruptions with this change. To explain any branding adjustments to clients, please access our free email template. There is also a new security page you can share.

What’s in a name?

Over the last year, we’ve spent a lot of time talking to business owners in the industry and continue to do so every day. We understand how challenging it can be to run a construction business, manage job sites and maintain a healthy cash flow.

A truss gives a stable form capable of supporting considerable external load.

Similarly, we want to support you in doing your job and remove the added stress of sending and collecting payments. Our mission is to make moving money as simple as possible, so you can focus on what really matters: Growing your business.

More about our rationale behind the updates and what they represent for our company and you in our latest blog post.


New Feature: Universal checkout link

It’s now easier for your clients to view and pay all of their payment requests in one place, and it’s simpler to collect payments for you.

From your dashboard, set your checkout ID to create a permanent link unique to your company. When your customers accept a payment request, they will be directed to a portal of all their outstanding and paid requests.

This means you no longer have to worry about different payment request links for each transaction. All payment requests for one customer are accessible through the same link.

See what the new checkout will look like for your customers:


Tell us what you think.

We’ve put a lot of thought into our new look and product update, and we’d love to hear from you! We couldn’t have come this far without your support.

Let’s keep money moving.

Matthew Smith

CEO & Co-Founder
Truss

Update

We are changing our name to Truss

Matthew avatar
Shared by Matthew • March 06, 2023

Hi there,

We started MazumaGo years ago as a payments solution for small businesses in Canada and quickly realized the need for an easier way to move large payments, specifically in the construction industry.

Three years later, with the support of countless clients like yourself, we are ready to announce a new name and brand to emphasize our mission to digitize construction payments.

Introducing Truss: Move money without the heavy lifting

As a new standard for construction payments, we wanted a name that shows we are 100% focused on building a product that solves payments for contractors.

A truss gives a stable form capable of supporting considerable external load. We understand how challenging running a construction business can be.

Our mission is to make moving money as simple as possible, so you can focus on what really matters: Growing your business.

On Monday, March 13th, you’ll see the same trusted platform you’ve come to love, but with a new look to emphasize this simplicity.

What this means for you

No action is required from you. On March 13th, you’ll notice a few changes in the way we look, but not the way we move your money.

Here’s what you’ll see:

  • New marketing site at trusspayments.com (not live yet)
  • Automatic redirects for the web app and login screens from app.us.mazumago.com to app.trusspayments.com
  • New logo and refreshed look in the product
  • Future payment notifications coming from notifications@trusspayments.com*
    (*Please whitelist so that payment notifications don’t go to Spam)
  • Future marketing emails coming from hello@news.trusspayments.com

You can keep using your existing MazumaGo Cards after March 13th. Any new physical cards ordered after March 13th will have the Truss logo and design. We will replace existing cards over time in the next few months.

What this means for your customers.

When you send or request a payment after March 13th, your customers will see the new Truss logo and name. To smooth this transition, we have prepared an email template you can use to explain these changes.

There will be no service interruptions.

Thanks for your ongoing support.

We couldn’t have come this far without you. Thanks for supporting us along the way and being as passionate about simplifying construction payments as we are!

Matthew Smith

CEO & Co-Founder

Truss

Product update

Manual Bank Connection and Filter Tabs

Matthew avatar
Shared by Matthew • February 24, 2023

Hi there,

We've revamped the dashboard with small changes that will go a long way. Here's what's new:

Manual bank account connection with routing numbers and micro-deposit verification

You can now add a bank account to MazumaGo by manually entering the routing details from your third party bank account.

For banks not currently supported by Plaid, our online login partner, you can connect to your bank and verify your account through micro-deposits.

Learn more here.

Updated navigation on payment tables

We've added new filtering tabs to your payment tables so you can sort and find payments at different stages, faster.

Fixed bank account authorization

Bank authorizations may occasionally require re-connection. When this happens, you'll now be prompted to re-connect your bank before proceeding with a payment.

Temporary Feature Sunset: Manual bill importing

We decided to temporarily sunset the ability to import bills via email and approve bills in your MazumaGo dashboard.

The feature was not yet up to our standard, and we plan to relaunch an improved version later. You can still view and pay bills from your Quickbooks Online account through the 'Send Payment' feature.

As always, don't hesitate to reach out to us with any questions, feedback or feature requests to help us build the best experience for you.

Best,

Matthew Smith

CEO & Co-Founder

Product update

Faster Payments, TOS Update & More

Matthew avatar
Shared by Matthew • January 26, 2023

Hi there,

January isn't even over, and we just launched our second product update of the year! Here's what's new:

Increased payment speed

ACH Payments from a MazumaGo account into a Third Party bank account now settle in 1-3 business days as opposed to 3-5 business days. Rest assured, we are working hard on accelerating this even more – stay tuned!

New highest-limit tier

Running into issues with your daily or monthly transfer limit? Let us know! We are happy to work out a limit that works for your business.

Improved Bulk Payments

We simplified creating and sending multiple payments simultaneously for a smoother, easier user experience. Give it a try!

Declined purchases showing in the purchases table

Card purchases that have been declined will now show in the 'Purchases' table on your dashboard to give you better transparency and documentation on attempted payments.

Updated Terms and Business Deposit Agreement

We updated our Terms Of Service and Business Deposit Agreement to align with recent product updates. You can access the latest version of our agreements at any time through our website.

As always, don't hesitate to reach out to us with any questions, feedback or feature requests to help us build the best experience for you.

Best,

Matthew Smith

CEO & Co-Founder