Cathay Cargo Terminal has become the first air cargo terminal in Hong Kong to introduce a business-to-business (B2B) ePayment solution, partnering with leading global cargo payment platform PayCargo to offer a secure, user-friendly, and efficient digital payment method for import cargo collection.
Cathay Cargo Terminal Chief Operating Officer Mark Watts said: “We are delighted to have selected PayCargo as our ePayment solution, providing more choice and convenience for freight forwarders and their trucking agents. This marks yet another milestone in our digital journey after enabling eAWBs (electronic airwaybills) and introducing eSRF (electronic Shipment Release Forms) at our terminal, reaffirming our commitment to digital leadership.”
Benefits to freight forwarders include the convenience of settling transactions anytime anywhere, eliminating queuing for cash payments, enhanced security, and expediting the entire cargo release process. This initiative has also been welcomed by the terminal’s customer airlines, who value the ease with which their customers will be able to settle payments in future.
Cathay Cargo Terminal already enables cashless cargo import payments at its Dongguan intermodal facility in the Chinese Mainland, with payments accepted via Alipay, WeChatPay and UnionPay. “It is now our ambition to be the first air cargo terminal to go fully cashless in Hong Kong” said Watts.
Freight forwarders may also set up direct credit facilities with Cathay Cargo Terminal. Cashless payments complement the eSRF process for import shipment release and make the full benefits of eSRF available to more of the terminal’s esteemed freight forwarder partners.
PayCargo is a freight payment solution for the global logistics industry operating since 2009. It has over 5,000 logistics vendors and over 50,000 registered payers (mostly freight forwarders) in its network. Cathay Cargo Terminal will become PayCargo’s launch cargo terminal partner in the Hong Kong market.
PayCargo Commercial Director Asia, Morgan Law, shared his excitement about the collaboration, saying: "We are thrilled to embark on this journey with Cathay Cargo Terminal, bringing forth a new era of efficiency and security in cargo payments. We are confident that PayCargo will not only streamline the financial workflow but also enhance the overall customer experience. Together, we are creating a new benchmark in the Hong Kong logistics sector, with a focus on speed, reliability, and convenience."
