PayCargo increases transaction fee from April 01

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PayCargo notified us on March 16th that they were increasing their modest transaction fee of $5 to $7.50 with effect from April 1st, 2020. PayCargo is the preferred 3rd party payment platform for remittances to the trade (i.e. freight forwarders, airlines, etc). Accordingly, clients can expect to see this nominal fee passed along at cost. It should be noted that an annual fee is also assessed by PayCargo, but is absorbed by FgL as an operating expense.

More information on the PayCargo platform is available at this link.

Alternate payment methods used by FgL include the competing 3rd party platform CargoSprint ($10 per transaction), and ACH.