CargoWALLET has been adopted by over 5,000 airlines, freight forwarders, ground handlers and logistics service providers over the last 18 months, which facilitates cargo payments in almost 50 currencies.
The wallet is popular with freight forwarders because it allows instant cross-border payments without the inconvenience of cash payments, long settlement times or relying on bank guarantees before accepting bookings.
Processing times using CargoWALLET are seconds rather than days and with reduced bank fees, says CargoAi.
Integrating CargoWALLET directly with a freight forwarder’s Transport Management System permits faster payments and reconciliation via multiple payment methods.
Matt Petot, CEO of CargoAi, says, “CargoWALLET has reached critical adoption in its early version. I am delighted that Olivier Veyrac has joined us as Senior Vice President of CargoWALLET to take it to the next level. Olivier Veyrac has extensive financial technology and technology integration experience, working with companies across the world.”
Veyrac adds, “CargoWALLET offers the broadest reach by far in the industry with the enablement of over 200 payment methods from 150 countries. It meets the security and confidentiality requirements demanded by the strict banking regulations, making it one of the strongest options in the industry.”
He also says that there is room for improvement with new features, partners and more countries due to follow in the coming months.