December 8, 2017: In an attempt to meet requirements of the freighters in the US, Cargo Network Services Corp (CNS) and PayCargo LLC have joined hands to launch real-time payment platform—PayCargo-CNS System for import shipments.
CNS is a subsidiary of the International Air Transport Association (IATA), whereas PayCargo LLC operates a patented online payment system in the global freight industry, offering overnight settlement of invoices between shippers and carriers.
Eduardo Del Riego, CEO of PayCargo said, “With CNS’s longtime relationship with the airlines and PayCargo’s adoption by importers to expedite their payments for urgent release of cargo, it was a natural for the two companies to offer an innovative solution to connect the payer and vendor on a real-time payment platform for Import shipments.”
Currently, CNS offers an array of products and services to assist freighters in the US Air Cargo Industry to stay abreast of the latest developments that impact the movement of air cargo. Also operates CASS-USA—the US Air Cargo Industry’s first Internet-based billing, invoice presentment and payment service, which provides seamless financial transactions between carriers and agents, annually facilitating around $4 billion worth transactions between participating stakeholders.
PayCargo’s current online solution for air, ocean, trucking and warehouses allow shippers to move cargo quicker in a secure, efficient way to reduce costs associated with payment processing.
PayCargo eliminates the traditional resource-intensive system of requesting, printing, mailing or delivering checks, wire transfers or cash, with majority of the vendors releasing the cargo within an hour after receiving the payment approval alert from PayCargo.
With PayCargo-CNS System, importers will be able to make online payments within minutes, and the payment data will flow to the airline immediately allowing the importer to pick up their cargo at the airport facility within one hour for a flat fee of $5.00 per transaction.