Cathay Cargo Terminal has become the first air cargo terminal in Hong Kong to introduce a business-to-business ePayment solution for import collection, in partnership with PayCargo.

This marks another milestone in the company’s digital journey after enabling eAWBs (electronic airwaybills) and introducing eSRF (electronic Shipment Release Forms) to provide more choice and convenience for freight forwarders and their trucking agents.

Freight forwarders can now settle transactions anytime anywhere, eliminating queuing for cash payments, enhanced security, and expediting the entire cargo release process. Forwarders may also set up direct credit facilities, the company noted.

Cathay Cargo Terminal already enables cashless cargo import payments at its Dongguan intermodal facility in China, with payments accepted via Alipay, WeChatPay and UnionPay.

Operations chief, Mark Watts, said the ambition is to be the first air cargo terminal to go fully cashless in Hong Kong.

The company noted that online payments complement the eSRF process for import shipment release and make the full benefits of eSRF available to more of the terminal’s freight forwarder partners.

Cathay will become PayCargo’s launch partner in its home market. The freight payment solution has been operating since 2009 and has over 5,000 logistics vendors and over 50,000 registered payers (mostly freight forwarders) in its network.

In related news, Cathay earlier announced that it will use new coversheet material made up of 50 percent recycled plastic for all export cargo shipments built up within its terminal from March 2024.