PayCargo

PayCargo is the number one financial platform for moving money and vital remittance information between payers and vendors.

For more information about PayCargo, visit paycargo.com

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PAYCARGO CAPITAL SEES UPTICK IN DEMAND FOR ITS SHORT-TERM CREDIT FACILITY TO HELP KEEP SUPPLY CHAINS MOVING DURING COVID-19


The Fintech company, a sister company of online payment platform PayCargo is supporting transportation firms and cargo owners to manage their cash flow

Coral Gables, Florida, USA, Wednesday May 6th, 2020 – PayCargo Capital, a sister company of online payment platform PayCargo, has seen a rise in demand for its short-term credit facility during the Covid-19 pandemic.

Transportation companies and cargo owners who are customers of PayCargo in North America can apply for credit of between USD25,000 to USD2,500,000 for a 15 to 30-day period.

“The relevancy of PayCargo Capital has grown since the start of the Covid-19 pandemic, as managing cash flow and paying for daily transportation and related invoices can prove difficult,” said Philip Philliou, Chief Executive Officer (CEO) of PayCargo Capital.

“Ocean shipping lines and cargo airlines have enormous amounts of capital tied up in artificial loans to customers.”

The credit facility is being used by PayCargo customers from across the supply chain, to pay for ocean, airfreight, cross border freight, warehouse and Customs fees, and other transportation-related expenses.

More than 2,000 transportation-related Vendors in North America accept payments via PayCargo’s online portal.

“Freight costs, along with shipping routes, timetables, and specialized cargo handling are standard ways for shipping lines and airlines to differentiate themselves,” said Philliou.

“Extending credit to customers has also been a common practice for transportation companies.

“The extension of credit by the ocean shipping lines and airlines is often misunderstood and fraught with issues and costs.”

Under the facility, PayCargo Capital pays all freight charges up front, reclaiming the appropriate funds electronically from the PayCargo customer in the agreed timeframe.

PayCargo Capital customers receive all the expedited cargo-release benefits of PayCargo, while deferring their Vendor payments to better manage their cash flow and working capital.

Visit www.paycargocap.com for more details and click here to see how the service works.

Ends

About PayCargo

PayCargo is the number one financial platform for moving money and vital remittance information between payers and vendors.

PayCargo’s online solution allows you to move cargo quicker and reduce payment costs more than any other platform available. Our patented technology effortlessly registers your company so that you can immediately start making payments to your freight vendors.

We have over 4,000 vendors in our network including major ocean carriers, air cargo providers, and hundreds of terminals and CFS stations. Over 1,000 of these vendors release the cargo within an hour after receiving the “Payment Approval” alert from PayCargo. All other vendors release cargo no later than the next morning.

PayCargo makes it as easy as Ship, Click, and Pay.

For more information about PayCargo, visit paycargo.com

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PAYCARGO CAPITAL SEES UPTICK IN DEMAND FOR ITS SHORT-TERM CREDIT FACILITY TO HELP KEEP SUPPLY CHAINS MOVING DURING COVID-19

The Fintech company, a sister company of online payment platform PayCargo is supporting transportation firms and cargo owners to manage their cash flow

Coral Gables, Florida, USA, Wednesday May 6th, 2020 – PayCargo Capital, a sister company of online payment platform PayCargo, has seen a rise in demand for its short-term credit facility during the Covid-19 pandemic.

Transportation companies and cargo owners who are customers of PayCargo in North America can apply for credit of between USD25,000 to USD2,500,000 for a 15 to 30-day period.

“The relevancy of PayCargo Capital has grown since the start of the Covid-19 pandemic, as managing cash flow and paying for daily transportation and related invoices can prove difficult,” said Philip Philliou, Chief Executive Officer (CEO) of PayCargo Capital.

“Ocean shipping lines and cargo airlines have enormous amounts of capital tied up in artificial loans to customers.”

The credit facility is being used by PayCargo customers from across the supply chain, to pay for ocean, airfreight, cross border freight, warehouse and Customs fees, and other transportation-related expenses.

More than 2,000 transportation-related Vendors in North America accept payments via PayCargo’s online portal.

“Freight costs, along with shipping routes, timetables, and specialized cargo handling are standard ways for shipping lines and airlines to differentiate themselves,” said Philliou.

“Extending credit to customers has also been a common practice for transportation companies.

“The extension of credit by the ocean shipping lines and airlines is often misunderstood and fraught with issues and costs.”

Under the facility, PayCargo Capital pays all freight charges up front, reclaiming the appropriate funds electronically from the PayCargo customer in the agreed timeframe.

PayCargo Capital customers receive all the expedited cargo-release benefits of PayCargo, while deferring their Vendor payments to better manage their cash flow and working capital.

Visit www.paycargocap.com for more details and click here to see how the service works.

Ends

About PayCargo

PayCargo is the number one financial platform for moving money and vital remittance information between payers and vendors.

PayCargo’s online solution allows you to move cargo quicker and reduce payment costs more than any other platform available. Our patented technology effortlessly registers your company so that you can immediately start making payments to your freight vendors.

We have over 4,000 vendors in our network including major ocean carriers, air cargo providers, and hundreds of terminals and CFS stations. Over 1,000 of these vendors release the cargo within an hour after receiving the “Payment Approval” alert from PayCargo. All other vendors release cargo no later than the next morning.

PayCargo makes it as easy as Ship, Click, and Pay.

For more information about PayCargo, visit paycargo.com