PayCargo announced last week that it was restarting its PayCargo Credit Program. PayCargo offers electronic invoicing and settlement solutions for the shipping industry.
PayCargo explained in a press release that its been expanding into other transportation segments such as air cargo, trucking, rail, and warehousing since earlier this year. With that expansion, PayCargo has arranged funding of the credit facilities it offers its clients.
Company CEO Eduardo Del Riego said in the release that his organization 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.”
Del Riego added that now, PayCargo also offers 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,” he said.
Earlier this year, the shipping industry received other good news when web-based e-commerce shipping solution, ShipStation, announced a partnership with Soldsie, an app that allows people to sell products on Facebook and Instagram.
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