The IATA-PayCargo System will serve as an import payment platform for the global air cargo industry leading to increased efficiencies, lower costs, and data rich remittance information.
SINGAPORE, March 12, 2019 /PRNewswire/ -- PayCargo LLC which operates a patented web-based payment platform serving the freight and logistics industry, announced an agreement with the International Air Transport Association (IATA), the trade association for the world's airlines, 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 (www.paycargo-cns.com) 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.
Eduardo Del Riego, CEO of PayCargo LLC stated; "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."
"Partnering with PayCargo globally will deliver more efficiency and cost savings to the air cargo value chain by streamlining the payment process of air cargo import operations and enabling a faster delivery of shipments," said Aleks Popovich, IATA's Senior Vice President, Financial and Distribution Services.
About IATA
The International Air Transport Association (IATA) is the trade association for the world's airlines, representing some 290 airlines or 82% of total air traffic. IATA supports many areas of aviation activity and help formulate industry policy on critical aviation issues.
About PayCargo
PayCargo is a patented online payments solution for the Ocean, Air, Trucking and Rail industries. PayCargo offers electronic tools that create significant efficiencies by automating the payments process. PayCargo helps companies in the international supply chain reduce operating costs, grow profits, dramatically increase cash flow, and improve overall liquidity. PayCargo, LLC, connects the payer and vendor for immediate transparency to improve payment communication, and allow significant cost savings through automation and standardization. www.paycargo.com
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