Partnership to provide payments system for freight and logistics companies

Travelex and Hi-Tech Freight Solutions have announced a new partnership which brings together Travelex’s international payments platform GlobalPay with Cyberfreight - Hi-Tech Freight Solutions’s leading software solution for the freight and logistics industries.

The partnership provides an electronic interface between Cyberfreight and GlobalPay allowing businesses to upload, execute and reconcile payments back to Cyberfreight at the click of a button.

This will save time and money for Australian companies that send and receive goods to offshore markets.

Doug Meuross, the CEO of Hi-Tech Freight Solutions, the developer of Cyberfreight, said the facility could save businesses countless hours previously spent manually entering payment details into their banking platform or issuing instructions to a bank.

“Until now, companies had to manually enter payments details or place orders directly with their bank and then manually reconcile those payments to Cyberfreight, a process that in some cases could take up to half a day. With this new functionality, businesses can export payment files from their desktop to be executed by GlobalPay with a few clicks of the mouse. Once completed, payment reports can then be transferred back to Cyberfreight, providing a fully automated reconciliation process in just a few simple steps.

“The facility is available to all current Cyberfreight customers and there is no cost involved in setting up the service or maintaining the payment account. Businesses also get the added benefit of accessing Travelex’s competitive currency exchange rates and their suite of hedging solutions,” Mr Meuross said.

Travelex Regional Divisional Director, Asia-Pacific, Kerry Agiasotis said the partnership was a natural fit for his organisation, which is committed to providing innovative and cost-efficient payments systems for business.

“Our GlobalPay system is specifically designed to improve the efficiency of payments processing as well as providing access to cash and risk management tools – giving greater control over cash flow and assisting in minimising potential losses due to currency fluctuations.

“Now more than ever, companies are focused on cash management and are looking for solutions with high levels of automation that can drive efficiency and free up staff time. The Travelex-Cyberfreight partnership ticks all these boxes.”