CargoAi, a digital enabler in the air cargo industry, has appointed Olivier Veyrac as its Senior Vice President for CargoWALLET. Launched in February 2023, CargoWALLET facilitates cargo payments in over 47 currencies, enhancing payment convenience for airlines, freight forwarders, ground handling agents, and logistics service providers worldwide.
Over the last 18 months, more than 5,000 companies have adopted CargoWALLET, allowing freight professionals to make payments from 150 countries using local methods. This innovation eliminates the need for cash transactions, lengthy settlement times, and bank guarantees, streamlining payment processes for all logistics companies involved.
The integration of CargoWALLET with freight forwarders’ Transport Management Systems (TMS) further accelerates payment and reconciliation via multiple payment methods. “Positive customer feedback and the rapid success of CargoWALLET show that the industry is keen on adopting reliable payment solutions,” said Matt Petot, CEO of CargoAi. “CargoWALLET has reached critical adoption in its early version.”
Petot highlighted Veyrac’s extensive experience in financial technology and his role in scaling global B2B payment solutions. “His expertise will be invaluable to the success of CargoAi’s fintech venture,” Petot added.
Veyrac expressed enthusiasm for his new role, noting, “CargoWALLET offers the broadest reach by far in the industry, with over 200 payment methods across 150 countries. It meets the strict security and confidentiality requirements demanded by banking regulations, making it one of the strongest options in the industry. There is still room for improvement, and I aim to expand features, partners, and geographic reach in the coming months.”
