Shipping and cargo trends: payment platforms

At PayCargo, we are in the business of using technology to speed up the movement of shipping and cargo.

At PayCargo, we like to keep our eye on new developments and gaze into the future to spot the next stages of the digital tech evolution that will impact shipping, cargo, and the world of Fintech.

The world of technology is an ever-changing domain, and, as a result, so is the world of shipping and cargo.

To stay up to date with the latest developments impacting the industry, once a month we will feature an overview of the latest shipping and cargo trends, starting with payment platforms.

What is a payment platform?

A payment platform is an online solution that connects businesses and customers to accept and process payments.

While the use of payment platforms is not a new development, in business it is becoming more widespread and is proving to be more effective than traditional forms of payment such as checks and wire transfers.

In shipping and cargo, it is a game-changer that is transforming the industry into a modern, tech-savvy environment that is equipped to keep up with the fast-paced world of e-commerce and Fintech.

Here are just some of the advantages of using a payment platform:

• Payments can be automated, saving time and money

• Avoid unnecessary processing costs associated with checks and wire transfers

• Enhanced security with encryption

• Online notifications and visibility

• Sustainable – reduces the use of paper

• Reduces the risk of human error and the associated delays

With PayCargo, another key advantage is the ability to release cargo within one hour of a vendor receiving an instant notification that a payment has been made.

This is transforming the nature of freight and bringing the shipping and cargo industry in line with the digital age.

As a trend, it is more than one to watch, and payment platforms should be on the radar for anyone in the business of moving goods around the world.