The PayCargo
Team—(l to r), Eduardo Del Riego,
CEO; Thomas Vieweg, Vice President Business
Development; Leo Hanon, Executive Vice
President and Juan Dieppa, COO |
It
is no secret in 2018 that the Air Cargo industry
is a key enabler of the global economy and
has grown to 35% of global trade by value.
PayCargo, a
proven successful multimodal technology company,
established in 2009 by industry entrepreneurs
and funded by key family offices and investors,
has been very successful in disrupting the
transportation industry by revolutionizing
urgent payment processes to facilitate expediting
cargo flows.
The company
was initially focused on the maritime sector,
and then continued with rail, warehouse, air
cargo handlers and most recently aviation,
with specific programs for inbound air cargo
fees.
Pay
Cargo In The Air
Eduardo del
Riego, PayCargo CEO, identifying the dynamic
contribution that the PayCargo platform could
provide towards IATA’s cargo strategy
and industry priorities, felt it made good
business sense to pursue a strategic partnership
with Cargo Network Services Corporation (CNS),
IATA’s US Cargo subsidiary. Thus, in
2015 discussions were initiated with CNS to
investigate collaboration opportunities to
better serve the airlines and their industry
partners, with a specific focus to help IATA
and CNS with their objective to modernize
industry processes, including the shift away
from cost prohibitive payment processes such
as checks, vouchers, cash, and credit cards.
All
About Network
PayCargo with
its wide network of payers, and CNS with its
mission to assist the airlines and their cargo
business partners with improved technology
and paperless processes, proved to be a natural
fit, leading to a long-term Partnership Agreement
that was signed in November 2017 to roll out
an enhanced version of the PayCargo Urgent
Payment System, as a new co-branded PayCargo-CNS
urgent payment portal, which was launched
at the end of 2017.
Leo
The Lion
In an attempt
to further strengthen the partnership, PayCargo
hired Leo Hanon, who served as the Head of
IATA’s Americas Service Center in Miami,
to lead the new PayCargo CNS program. Leo
joined PayCargo as Executive Vice President
in February 2017.
Lionel
Onboard
Subsequent to
Leo’s appointment, PayCargo Chairman
Larry Brandt, invited Lionel van der Walt,
who previously served as CNS’ President,
to join the PayCargo Board. Larry noted that
this was another strategic move to strengthen
PayCargo’s ability to better understand
and serve their new partners (IATA and CNS)
as well as the broader air cargo sector. He
went on to explain that Lionel would replace
a board member that was stepping down to run
PayCargo’s European activities, and
that with his knowledge, experience and network,
Lionel’s appointment was a win-win for
PayCargo, IATA and CNS.
CNS
Partnership
It seems CNS
has found themselves a great partner in PayCargo.
No doubt this has been a bold move to consolidate
a strong team of entrepreneurs and business
visionaries that are now aiming to revolutionize
the air cargo industry by delivering an innovative,
secured and cost-effective urgent payment
solutions that provides significant measurable
benefits for all air cargo value chain stakeholders.
This is good news for an industry that always
appears to be plagued by thin margins and
continuous cost challenges.
Geoffrey |