PayCargo teams up with FIATA in a landmark global agreement impacting the
largest organized group of freight forwarders in the world.
PayCargo has developed a tailored solution,
called Freight-Pay, which will allow members of The International Federation
of Freight Forwarders Associations (FIATA) to instantly make and receive
payments between themselves, while also benefitting from reduced transaction
costs and heightened security features.
was founded in Vienna 95 years ago on August 1, 1926 and is one of the largest
organizations of its kind in the world with 109 Association Members and
more than 5,500 Individual Members, overall representing an industry of
40,000 freight forwarding and logistics firms worldwide.
Helps Forwarders Grow
FIATA members worldwide can now register
on the platform free of charge to make and receive payments globally.
“We have worked with FIATA to develop
a cost-effective, custom online payment platform to ensure their members
have access to, and can benefit from, the ongoing digitalization of the
freight payment industry,” Lionel van der Walt, (left)
Global Chief Commercial Officer, PayCargo said.
“Freight-Pay simplifies transactions
and reduces costs in a secure environment, supporting FIATA members to
grow their business and improve efficiency and customer service delivery,”
Lionel van der Walt declared.
Freight-Pay is end-to-end encrypted and
allows FIATA members to create an account, send and receive money to and
from other members worldwide, and provides them with instant visibility
and access to transaction data.
FIATA PayCargo Partnership
“Freight-Pay is meant to simplify
the freight forwarder’s day-to-day business and we are excited to
introduce this new tool to our members,” said Dr. Stephane Graber,
(right) FIATA Director General.
“As we dive deeper into the digital
world, we must continue to equip our members with hands-on resources that
make their daily practice easier.
“That’s why we collaborated
with PayCargo to develop the Freight-Pay solution, so that FIATA members
can have an efficient and secure platform to transfer money among themselves
at a reduced cost.”
PayCargo has a track record of teaming up
with like-minded associations and companies to develop tailored solutions.
In April, PayCargo worked with Air Cargo
Netherlands to simplify the payment and collection of the Association’s
membership and delegate transactions.
In June, PayCargo secured a Series B investment
of USD$125 million with global private equity firm Insight Partners which
will be used to further develop digital payment tools and services for
The Humble Green Giant
Despite their remarkable success in the
financial services quarter PayCargo remains, what can rightfully be described,
as a humble organization with a caring approach.
Here Lionel shares his thoughts on the
company’s role in the transportation industry.
“Most people think of PayCargo in
simple terms as an online payment platform, which is absolutely correct.
“However, the role we play transforming
industry payments facilitates trade, economic growth and sustainability.
“By accelerating payments PayCargo
also impacts the flow of goods and trade, which drives economies.
“These efficiencies influence terminal
congestion and emissions, and ultimately play a role in bringing sustainability
through our new technologies and financial programs.
“As example of sustainability, imagine
the volume of outdated labor-intensive, paper-based processes that the
PayCargo offering eliminates?
“PayCargo believes that corporate
social responsibility is an essential part of the logistics industry's
“We will continue to call for better
understanding of these values through advanced implementation of our payment
programs and also through our participation in industry events and encounters
moving forward,” Lionel van der Walt told Flying Typers.
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