CargoAi appoints Senior Vice President for CargoWALLET
Eve Goode
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The supplier to the freight industry has now appointed global payment expert, Olivier Veyrac as its Senior Vice President for CargoWALLET.
CargoWALLET was launched in February 2023 by CargoAi. It has quickly gained traction and facilitates cargo payments in over 47 countries.
Who uses CargoWALLET?
Within the last 18 months, CargoWALLET has been adopted by more than 5,000 airlines, freight forwarders, GHAs and logistics service providers.
The integration of CargoWALLET with freight forwarders Transport Management System (TMS) is an additional use case permitting faster payment and reconciliation via multiple payment methods.
CargoWALLET allows CargoAi freight professionals to pay from 150 different countries and in over 47 different currencies using local payment methods.
The wallet is available to all logistics companies.
The company claim that CargoWALLET is proving to be particularly attractive to freight forwarders due to its instant-cross-border payment capability.
The wallet allows airlines to accept instant payments from all of its customers, rather than having to handle cash payments.
Paying with cash can be inconvenient and potentially cause long settlement times and having to rely on the bank guarantees before accepting a booking.
CEO of Cargo Ai, Matt Petot stated:
“I am delighted that Olivier Veyrac has joined us as the Senior Vice President of CargoWALLET to take it to the next level.
“Veyrac has extensive financial technology and technology integration experience, working with companies across the world […] His experience scaling global BtoB payments solutions and commercial partnerships will prove invaluable to the success of CargoAi fintech venture.”
He continued: “CargoWALLET offers the broadest reach by far in the industry with the enablement of over 200 payment methods from 150 countries.
“It meets the security and confidentiality requirements of demanded by the strict banking regulations.”
Petot closed his statement with: “There is still room for improvement. More new features, more partners and more countries are my goals for the coming months.”
