IATA hopes to make paying for cargo easier

Eduardo Del Riego, CEO of PayCargo LLC and Aleks Popovich, IATA’s Senior Vice President, Financial and Distribution Services.

PayCargo and IATA have established the IATA-PayCargo System to offer the air cargo industry “an advanced and efficient payment and settlement system.”

The partnership marks the global expansion of an agreement that began in 2017 when Cargo Network Services (CNS), a US-based subsidiary of IATA, and PayCargo offered a similar service in the US.

The companies say the IATA-PayCargo System will serve as “an import payment platform for the global air cargo industry leading to increased efficiencies, lower costs, and data rich remittance information.”

Eduardo Del Riego, ceo of PayCargo, which operates a patented web-based payment platform serving the freight and logistics industry, said: “The PayCargo system, which already has 20,000 users worldwide has proven to be highly efficient and allows members to reduce costs significantly.”

He added that it made sense “to allow all our global customers to benefit from the strength of such a partnership.”

Aleks Popovich, IATA’s senior vice president, financial and distribution services, said: “Partnering with PayCargo globally will deliver more efficiency and cost savings to the air cargo value chain by streamlining the payment process of air cargo import operations and enabling a faster delivery of shipments.”