CargoAi has appointed Olivier Veyrac as Senior Vice President for CargoWALLET, the company’s digital payment platform launched in February 2023. Since its inception, CargoWALLET has facilitated cargo payments in more than 47 currencies and has been adopted by over 5,000 airlines, freight forwarders, ground handling agents, and logistics service providers. The platform allows users to make payments from 150 countries using local payment methods and is particularly popular among freight forwarders due to its ability to process cross-border payments instantly.
The CargoWALLET system also integrates directly with the Transport Management Systems (TMS) used by freight forwarders, which allows for quicker payments and easier reconciliation through multiple payment methods.
Matt Petot, CEO of CargoAi, commented on the platform’s success, stating, “Positive customer feedback and the rapid success of CargoWALLET show that the industry is keen on adopting reliable payment solutions. CargoWALLET has reached critical adoption in its early version. I am delighted that Olivier Veyrac has joined us as Senior Vice President of CargoWALLET to take it to the next level.”
Olivier Veyrac, who has a background in financial technology and global payment solutions, said, “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 demanded by the strict banking regulations, making it one of the strongest options in the industry.” He also noted plans to enhance the platform with more features, partners, and country coverage in the coming months.
The introduction of CargoWALLET has reduced processing times for cross-border payments from days to seconds and lowered bank fees. It has also enabled some import customers in certain regions to settle accounts electronically for the first time. With the addition of Olivier Veyrac, CargoAi aims to further streamline the payment process for its freight customers.
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