The PayCargo System is the first neutral on-line freight payment system for the global shipping industry. It allows Shippers, Carriers and Freight Brokers to settle accounts rapidly and reliably within a standardized, secure platform. Participation in the PayCargo System requires no capital expenditures and is easy to implement. It is a complementary tool to any existing legacy system.
Carriers, Shippers, NVOCCs, 3PLs, Customs Brokers, Freight Forwarders, Freight Brokers, and Ship Agents, or any Vendor and their customers.
Go to www.paycargo.com and click on Register, and signup as a carrier or a Shipper, or call 1-888-250-7778.
The PayCargo System is a secure, web-based application that can be accessed by any PC with Internet access. You will be given a unique username and password at setup to access the PayCargo system.
The PayCargo System can be accessed 24 hours a day / 7 days a week. However, it is important to note that transactions and status updates will only occur during normal business hours, excluding Bank Holidays.
Through the PayCargo System, a Carrier can make their receivables available to their customers to view, approve or dispute any invoice or Bill of Lading. They can then get paid online immediately and reduce overall time and costs associated with receiving paper payments, and reduce their DSO (Days Sales Outstanding).
Through the PayCargo System, a Shipper can view invoices loaded by a participating Carrier, or set up any non-participating carrier by loading invoices from their payables. The Shipper can leverage multiple payment options, approve or dispute a transaction before making a payment, track the status of a payment, and reduce the amount of additional expenses associated with manual payments.
The System has an easy-to-use on-line help feature right at their fingertips. If the answers are not in the help file, just call a PayCargo Customer Service Rep for assistance, 24/7 at 1-888-686-5541.
All Payments are received via ACH. The Transactions will post on the PayCargo System allowing the Shipper to log in and view all their Transactions with participating Carriers. They will then have the ability to either Dispute or Approve a Transaction for Payment. Once Approved, PayCargo will debit the Shipper for the amount owed and credit the Carriers the same day. The funds will appear in the carriers the next day.
Currently there are three (3) Payment options available with the PayCargo System.
Overnight Debit Payment for shipment is debited from the Shippers account and credited to the Carriers account on the scheduled due date or on the day the shipper schedules it.
PayCargo Credit If the shipper has applied for and is granted PayCargo Credit, PayCargo will pay the Carrier and maintain an account receivable from the Shipper. Payment will be credited to the Carrier account on the due date.
Carrier Credit the Carrier extends credit to the Shipper to be paid on an agreed upon date. PayCargo will schedule a Payment from the Shipper to the Carrier based on the Carriers credit terms.
The Shipper would run a Payment Status Report. There are three (3) different "Payment" statuses within PayCargo: Pending, Processing, and Processed.
There are typically only a few reasons a Payment would return: insufficient funds in the account, the account number or routing number is invalid, or the account is closed. The PayCargo System will provide the return reason if an ACH item is rejected and will work with the Shipper in an effort to make the payment good. If a Payment is returned, it is the Carriers responsibility to contact the Shipper to collect the Payment owed.
Invoice payments can be Approved 24 hours a day / 7 days a week. PayCargo will process Approved Payments by 6PM CT Monday-Friday, excluding Bank Holidays.
One unique open invoice or Accounts Receivable Item in the form of a BOL or an invoice between a Carrier and a Shipper.
A disagreement initiated by the Shipper for the amount of a Transaction item or invoice total.
If no Payment due date is indicated by the vendor, the system uses the Inbound Arrival date, or the Outbound Departure date to trigger the due date, plus any credit terms the carrier or vendor may have indicated. If a Payment Due Date is entered by the Carrier, it will override the others.