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 June 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Lifting Specialists Modulift, IMES form Joint Venture

Lifting industry specialists Modulift and IMES have formed a joint venture to offer an integrated management service to clients internationally.   The two companies

Chinese PM Inks 2 Agreements During CMA CGM Visit

The CMA CGM Group hosted the Chinese Prime Minister, the French Foreign Affairs Minister and a ministerial delegation at its headquarters in Marseilles, July 1, the global shipping company announced.

Shell Green Lights GoM Field After Cost Cuts

Royal Dutch Shell has given the green light for the development of its largest platform in the Gulf of Mexico after making steep cost cuts which made the deep water

Finance

Charleston Harbor Deepening Gets US Funding

Charleston Harbor deepening project earns key federal funding for preconstruction engineering and design; U.S. Army Corps of Engineers allocates $1.303 million

Chinese PM Inks 2 Agreements During CMA CGM Visit

The CMA CGM Group hosted the Chinese Prime Minister, the French Foreign Affairs Minister and a ministerial delegation at its headquarters in Marseilles, July 1, the global shipping company announced.

Shell Green Lights GoM Field After Cost Cuts

Royal Dutch Shell has given the green light for the development of its largest platform in the Gulf of Mexico after making steep cost cuts which made the deep water

Software Solutions

NAPA Streamlines Compliance with Class Design Rules

NAPA Steel and NAPA Designer updated to reduce man-hours and duplication associated with new Common Structural Rules BC&OT   Global maritime software, services

IRClass Offers EEDI Validation Service

IRClass (Indian Register of Shipping) has recently included Energy Efficiency Design Index (EEDI) validation to its service offerings. This is in response to the

Tero Marine Secures Boa Offshore Contract

Tero Marine informs it has secured a multimillion (NOK) contract for delivery of fleet management software to Norwegian shipping company Boa Offshore. The Bergen-based

Logistics

Chinese PM Inks 2 Agreements During CMA CGM Visit

The CMA CGM Group hosted the Chinese Prime Minister, the French Foreign Affairs Minister and a ministerial delegation at its headquarters in Marseilles, July 1, the global shipping company announced.

Kenyan Port Workers Strike Over Higher Health Costs

More than 2,000 workers at East Africa's biggest port in Kenya's coastal city Mombasa went on strike on Wednesday protesting an increase in the amount they will

A/S Trumf Bunker Joins KPI Bridge Oil Group

KPI Bridge Oil, a global broker and trader in marine bunkers, marine lubricants and risk management products, has announced the take over of A/S Trumf Bunker. A/S

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Offshore Oil Pod Propulsion Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | 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: 0.2187 sec (5 req/sec)