TradeCard, Inc, an online trade fulfilment and settlement network, is working on a charges collection service for logistics providers that might be rolled out in the fourth quarter of the year, an executive says.
TradeCard director of alliance management, Elke Chan, said details of the service were still being worked out.
Based on industry feedback, the company is said to be planning to put charges incurred by a logistics provider through the TradeCard system, and have it processed and approved online, activating payment.
This allows logistics providers to get their payment at a much cheaper rate than they would through banking transactions commonly used in the marketplace.
Essentially, the TradeCard system provides a range of financial settlement options through a single platform supporting both international and domestic trade transactions. These are designed to meet customer needs in trans action procurement, fulfilment, risk mitigation, payment decision-making and settlement.
TradeCard also provides a patented data compliance engine, assurances of payment, money movement and access to logistics, inspection, insurance and financial services.
Virtually any type of domestic or cross-border trade transaction can be initiated, tracked and settled in an automated, collaborative environment.