PayCargo has launched its service providing overnight settlement of invoices between shippers and carriers in Europe from its newly founded European subsidiary, PayCargo Europe.

Its online solution for air, ocean, trucking and warehouses, allows shippers to move cargo quicker in a secure, efficient way to reduce costs associated with payment processing.

PayCargo eliminates the traditional resource-intensive system of requesting, printing, mailing or delivering checks, wire transfers or cash, with the majority of the vendors releasing the cargo within an hour after receiving the ‘payment approval’ alert from PayCargo.

PayCargo US chief operating officer, Juan Dieppa says: “With the support of our large client base in addition to our global Carrier support, it is time to establish our service around the world in cargo-centric locations. Given the importance of the European freight market, our choice quickly fell upon Amsterdam, The Netherlands being at the heart of it.”

PayCargo Europe chief executive officer, Adriaan Reinders says: “We are ambitiously growing around the globe and it is only natural to have an Amsterdam base in order to service the local cargo players even better then we could from our HQ in the United States.”

“With this new office, we show our US customers that we are a serious player in all markets and they can count on us to expand where and when they need us to.”