PayCargo Re-introduces its Logistics Credit Program

By George Backwell
Wednesday, July 16, 2014
PayCargo logo

Provider of electronic invoicing and settlement solutions for the shipping industry, PayCargo, LLC, says it has brought back its highly successful PayCargo Credit Program. PayCargo provides a global, online freight payment system that allows shippers, carriers and freight brokers of all sizes to settle accounts faster and more safely than ever before.

Since being spun out of a major financial services company earlier this year, PayCargo has been expanding into other transportation segments such as air cargo, trucking, rail, and warehousing. As part of its expansion, PayCargo has arranged funding of the credit facilities it offers its clients.

PayCargo can now offer very competitive financing options. Through PayCargo’s state-of-the-art, supply chain finance technology platform, carriers can enjoy advanced funding of receivables and shippers can qualify for additional credit terms on their payables.

“PayCargo has always been attractive to some of the larger third party logistics providers (“3PL”) because of our ability to settle payments to the carrier by the next day with data rich remittance information, but now we also offer payment solutions that improve cash flow by allowing shippers to extend their payment terms to their carriers, while providing an another option to the carriers to get paid early. This develops into optimized working capital for the shipper and greater cash flow for the carrier, while reducing risk throughout the supply chain,” according to PayCargo’s CEO, Eduardo Del Riego.

About PayCargo
PayCargo is a commercial payments solution for the ocean, air, trucking and rail industries. PayCargo offers electronic tools that create significant efficiencies by automating the payments process. It helps companies in the international supply chain reduce operating costs, grow profits, dramatically increase cash flow, and improve overall liquidity.

Maritime Reporter November 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Madsen to Chair Norway’s Research Council Executive Board

Henrik O. Madsen appointed chairman of the executive board of the Research Council of Norway   DNV GL president and CEO Henrik O. Madsen was appointed as chairman

Port of Houston Expecting Record Year

The Port of Houston Authority is expecting 2014 to close as a banner year for the port, with 34 million tons of cargo handled through November, Executive Director

Hapag-Lloyd Completes CSAV Merger Capital Increase

Hapag-Lloyd completed the planned capital increase of EUR 370 million (approximately $452.5 million) as part of the business combination with the Chilean shipping

Finance

Larger Tankers May Offer Better Return Chances

Investors looking for returns in the tanker markets can invest their capital in a variety of ways. Should an owner invest in a VLCC or an Aframax? How about an

US Plans to Shut Royalty Loophole on Coal Exports

U.S. coal companies will no longer be able to settle royalties at low domestic prices when they make lucrative sales to Asia according to reforms proposed by the Interior Department on Friday.

Hapag-Lloyd Completes CSAV Merger Capital Increase

Hapag-Lloyd completed the planned capital increase of EUR 370 million (approximately $452.5 million) as part of the business combination with the Chilean shipping

Software Solutions

K Line to Expand Use of Eco-efficiency Software

Three further K Line vessels to install ClassNK-NAPA GREEN eco-efficiency software after reporting fuel savings during trials on an 8,600 TEU container vessel   NAPA

Breakthrough Capability Keeps Subs, Ships Safe

Interactive software that can dramatically cut the time it takes to plan safe submarine missions is crossing over to the surface fleet and is being installed

Lloyd's Register Foundation Funds Big Data Study

The Lloyd’s Register Foundation today launched its Foresight review of big data and announced a conditional grant offer of £10 million to support research by

Logistics

Port Workers in Argentine Grain Hub End Strike

Port workers in part of the Argentine grains hub of Rosario lifted a work stoppage on Friday, only a day after they went on strike over demands for higher year-end bonuses, a union official said.

Port of Houston Expecting Record Year

The Port of Houston Authority is expecting 2014 to close as a banner year for the port, with 34 million tons of cargo handled through November, Executive Director

Costa Rica Approves APM Terminals Project

Port operator APM Terminals, a unit of Denmark's A.P. Moller-Maersk, said on Friday Costa Rica's environment agency had approved the construction of its Moin Container Terminal project.

 
 
Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Pod Propulsion Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1570 sec (6 req/sec)