CargoAi has launched CargoWALLET, a 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 enables shipments to be booked and paid for without an IATA Cass Number, without an AWB stock, AND without any bank guarantee, specifically tailored to empower small to medium-sized freight forwarders. It also addresses the needs of medium to large freight forwarders who have an IATA Cass number, but may not have AWB stock with all the carriers due to expensive bank guarantees, or certain airlines still requiring such forwarders to produce bank guarantees. All of these scenarios require additional steps for freight forwarders to fulfil their daily business demands, adding up to more costs and time required.
CargoWALLET has the additional benefit of allowing freight forwarders to place bookings from any origin as well as long payment terms (PayLater).
“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.
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.
“We are thrilled to be launching CargoWALLET, which brings the best practices from other industries to air cargo and enables a seamless process regardless of any freight forwarder’s import origin”, said Matt Petot, CEO of CargoAi. “By having multiple different functions within one digital solution, CargoWALLET is the first of its kind to having so many benefits for freight forwarders of all sizes.”
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