Cathay Cargo Terminal, based in Hong Kong, breaks new ground as the first air cargo terminal in the region to launch a business-to-business (B2B) ePayment solution in collaboration with global cargo payment platform PayCargo.
Cathay Cargo Terminal has taken a significant stride in its digital evolution by partnering with PayCargo to introduce a secure and efficient ePayment solution for import cargo collection. Serving as PayCargo’s inaugural cargo terminal partner in the Hong Kong market, the move aligns with Cathay Cargo Terminal’s commitment to digital leadership, following the successful implementation of eAWBs (electronic airway bills) and eSRF (electronic Shipment Release Forms).
Mark Watts, Chief Operating Officer of Cathay Cargo Terminal, expressed delight at selecting PayCargo as the ePayment solution, emphasising the initiative’s role in providing freight forwarders and their trucking agents with more choices and convenience. The new offering enables 24/7 settlement of transactions from any location, eliminating the need for cash payments and the inconvenience of queuing.
The ePayment solution not only enhances security measures but also expedites the cargo release process, offering a seamless digital experience for stakeholders. Cathay Cargo Terminal has already successfully implemented cashless cargo import payments at its Dongguan intermodal facility in the Chinese Mainland, accepting payments through Alipay, WeChatPay, and UnionPay.
Watts expressed further ambition, stating, “It is now our ambition to be the first air cargo terminal to go fully cashless in Hong Kong.” Freight forwarders can also establish direct credit facilities with Cathay Cargo Terminal, complementing the eSRF process for import shipment release and extending the benefits of digitalisation to more partners.
PayCargo, with a decade of experience in the freight payment solutions sector, boasts a vast network comprising over 5,000 logistics vendors and over 50,000 registered payers, predominantly freight forwarders. Cathay Cargo Terminal’s strategic collaboration with PayCargo positions it at the forefront of digital innovation in the air cargo industry, emphasising efficiency, security, and enhanced convenience for all stakeholders.
