Logistics payment platform operator, PayCargo, announced its partnership with the International Federation of Freight Forwarders Associations (FIATA) for the launch of a new platform, Freight-Pay, that will facilitate online transactions among FIATA members.

In a statement, it said FIATA members will now be able to make and receive online payments from other members who have joined the platform.

PayCargo noted that some of the benefits include reduced transaction fees, flexible payments and end-to-end encrypted transactions.

“Freight-Pay is meant to simplify the freight forwarder’s day-to-day business ... as we dive deeper into the digital world, we must continue to equip our members with hands-on resources that make their daily practice easier,” said Stephane Graber, FIATA director general.

She added that PayCargo will allow FIATA members to have an efficient and secure platform to transfer money among themselves at a reduced cost.

Lionel van der Walt, Global Chief Commercial Officer at PayCargo, commented: “A system such as Freight-Pay will help to enable businesses, irrespective of their location, to become truly global in their operations. International partnerships will become simplified, more readily available and the cost of doing business significantly reduced.”

“Existing methods of international payments are slow, expensive, and often unavailable to many businesses; Freight-Pay has been specifically designed to address and resolve these challenges for the FIATA freight forwarding community.”