PayCargo which operates a patented web-based payment platform serving the freight and logistics industry has signed an agreement with the International Air Transport Association (IATA) to jointly offer the air cargo industry an advanced and efficient payment and settlement system: The IATA-PayCargo System.
This partnership marks the global expansion of an agreement that began in 2017 when Cargo Network Services (CNS) a US-based subsidiary of IATA, and PayCargo, LLC (USA) agreed to offer the PayCargo-CNS System to customers in the United States.
The latest announcement allows customers worldwide to benefit from the ability to make fast, online payments as well as have immediate access to settlement data.
PayCargo chief executive officer, Eduardo Del Riego said: “Having experienced the success of the CNS-PayCargo System in the United States, it only made sense to allow all our global customers to benefit from the strength of such a partnership.
IATA is continually striving for innovation and efficiency for its members. The PayCargo system, which already has 20,000 users worldwide has proven to be highly efficient and allows members to reduce costs significantly.”
IATA’s senior vice president, financial and distribution services, Aleks Popovich said: “Partnering with PayCargo globally will deliver more efficiency and cost saving to the air cargo value chain by streamlining the payment process of air cargo import operations and enabling a faster delivery of shipments.”