CargoWALLET is a modern payment solution for air cargo with supply chain financing capabilities, allowing freight forwarders to make payments for their air cargo shipments directly within the CargoMART booking flow.
CargoWALLET’s key USPs for freight forwarders are summed up as follows:
1) Streamlined Booking & Payment:
Search and book shipments instantly - no IATA Cass Number, AWB stock, or bank guarantees required.
2) Flexible Finance:
Manage cash flow effectively with extended payment terms (PayLater).
3) Global Reach:
Book air cargo from anywhere in the world, with local payment in more than 30+ currencies.
Started as a project 2 years ago and accelerated with the CargoTech partnership, this payment solution is revolutionizing the way the air cargo is booked and is now finally released to all freight forwarders, following months of successful testing.
“We are excited about the exponential capabilities CargoWALLET brings to the industry. Not only does air cargo booking become more seamless, but the entire procurement from search, quote, booking, and now payment can be done within minutes on just one interface – CargoMART," said Magali Beauregard, CCO of CargoAi. “Similar to our other products (such as Cargo2ZERO) we are helping not just the large industry players connect with each other in the digital air freight ecosystem, but ensuring stakeholders of all sizes get to stay ahead in the digital adoption as well.”
How does it work?
CargoWALLET is embedded as part of CargoAi's current booking solutions (CargoMART and CargoCONNECT booking flows). If a user has their CargoWALLET activated, they will be able to search all of the airline carriers' capacities instantly and seamlessly pay for any booking using the digital wallet linked to their company account.
The basic functions of everyday digital wallets such as ‘Top Up’ , ‘View Account Balance’ and ‘Transaction History’ are all features of CargoWALLET, replicating the ease of use that many forwarders are already familiar with, in their personal lives. Using a large and proven finance provider in the backend, users of CargoWALLET benefit from the lowest exchange rates in 30+ currencies, and minimal transactional costs – therefore, using CargoWALLET is no more expensive than a bank transfer.