CargoAi has appointed global payment expert Olivier Veyrac as Senior Vice President for CargoWALLET. Launched in February 2023, CargoAi’s CargoWALLET has quickly gained traction and today facilitates payments in over 47 currencies.

“Over the last 18 months, CargoWALLET has been adopted by 5,000+ airlines, freight forwarders, GHAs and logistic service providers. With CargoWALLET, freight professionals can now pay from 150 countries and in over 47 currencies using local payment methods. CargoWALLET is proving particularly attractive to freight forwarders because of its instant cross-border payment capability. With the wallet, airlines can accept instant payments from all their customers, rather than inconvenient cash payments, long settlement times or having to rely on bank guarantees before accepting a booking.”

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The integration of CargoWALLET directly with freight forwarders’ Transport Management System (TMS) is an additional use case for faster payment and reconciliation via multiple payment methods, the release added. “Positive customer feedback and the rapid success of CargoWALLET show that the industry is keen on adopting reliable payment solutions,” says Matt Petot, CEO, CargoAi.

“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 has extensive financial technology and technology integration experience, working with companies across the world. Furthermore, his experience scaling global BtoB payments solutions and commercial partnerships will prove invaluable to the success of CargoAi fintech venture.”

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Veyrac adds: “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. There is still room for improvement. More new features, more partners, and more countries are my goals for the coming months.”