Cathay Cargo Terminal Innovates with First B2B ePayment System in Hong Kong

Cathay Cargo Terminal has taken a groundbreaking step in Hong Kong's air cargo industry by introducing a business-to-business (B2B) ePayment solution, a first for air cargo terminals in the region. This initiative, in collaboration with the global cargo payment platform PayCargo, aims to revolutionize the import cargo collection process by offering a secure, efficient, and user-friendly digital payment method.

Mark Watts, Chief Operating Officer of Cathay Cargo Terminal, expressed enthusiasm about the partnership with PayCargo, highlighting it as a significant advancement in their digital transformation journey. "This collaboration is a testament to our commitment to digital leadership, following our successful introduction of electronic airwaybills (eAWBs) and electronic Shipment Release Forms (eSRF) at our terminal," said Watts.

The introduction of ePayments is poised to bring substantial benefits to freight forwarders and their trucking agents, including the ability to settle transactions remotely, the elimination of cash payment queues, enhanced security, and a faster cargo release process. This digital leap is also celebrated by customer airlines, appreciating the simplified payment settlement for their customers.

Cathay Cargo Terminal's ambition to become the first fully cashless air cargo terminal in Hong Kong is well underway, with cashless cargo import payments already enabled at its Dongguan intermodal facility through Alipay, WeChatPay, and UnionPay. "Our goal is to lead the way in cashless operations across Hong Kong," Watts added.

In addition, freight forwarders can establish direct credit facilities with Cathay Cargo Terminal, further leveraging the benefits of cashless payments and the eSRF process for import shipment release. This move is expected to enhance the operational efficiency and service quality for a broader range of the terminal's freight forwarder partners.

PayCargo, a key player in freight payment solutions since 2009, boasts over 5,000 logistics vendors and more than 50,000 registered payers in its network. With Cathay Cargo Terminal as its inaugural cargo terminal partner in Hong Kong, PayCargo is set to redefine the logistics payment landscape.

Morgan Law, PayCargo Commercial Director Asia, shared his excitement about this strategic collaboration. "We are thrilled to partner with Cathay Cargo Terminal to usher in a new era of efficiency and security in cargo payments. This partnership is set to create a new benchmark in the Hong Kong logistics sector, emphasizing speed, reliability, and convenience," said Law.

This innovative step by Cathay Cargo Terminal and PayCargo not only marks a milestone in the digitalization of air cargo services but also signifies a move towards a more streamlined, secure, and efficient logistics industry in Hong Kong.