E2open Teams With PayCargo to Drive Freight Payments
Supply chain management platform E2open is teaming up with global logistics payment firm PayCargo to make the freight payment process faster and easier for carriers, forwarders and shippers, according to a press release on Friday (Jan. 28).
E2open’s embedded payment processes will use PayCargo’s solution to move cargo from ports faster. The process will eliminate the labor-intensive and time-wasting system of printing, mailing, issuing paper checks and doing wire transfers.
The capabilities of both companies together will provide shippers, forwarders and carriers with an efficient system for booking, confirming, tracking, settling and releasing cargo, which in turn will move merchandise seamlessly from origin to destination.
See also: Uber Freight Partners With Marqeta, Branch to Boost Logistics, Transportation
“Our partnership with PayCargo not only improves our clients’ experience, it also continues to make E2open the leading end-to-end supply chain platform and network provider to now include payment and settlement capabilities across modes. We are committed to growing our strategic partner ecosystem with high-value technology solutions that improve our clients’ ability to do business,” said Michael Farlekas, chief executive officer of E2open.
“With PayCargo, we extend our payment and settlement capabilities to additional modes, and have the opportunity to further streamline more than a quarter of the world’s cargo processes. This has a tremendous impact on the efficiency of freight movements and reduction of congestions, which positively impacts environmental sustainability,” he said.
Read more: 7bridges Raises $17M Series A to Transform Supply Chains With AI
Eduardo Del Riego, CEO of PayCargo, said that partnering with of E2open will offer logistics services providers fast payments to “help ensure cargo is released as quickly as possible so it can get to its destination on time.”
The partnership also aligns with E2open’s mission to drive sustainability and efficiency in the industry by easing port congestion and pollution by reducing idle and fast-tracking the freight discharge process.