Mastercard and Stargo Target Efficiency in Freight Payments

Mastercard has announced that it is partnering with Stargo, a company leveraging artificial intelligence in the freight industry to deliver routing, pricing and payment automation for freight forwarders. By integrating Mastercard commercial payment solutions with Stargo’s price optimisation engine, the goal is that players in the freight industry will be able to benefit from a more efficient procure-to-pay process that delivers end-to-end transparency and reconciliation.

By combining Stargo’s route and price optimisation platform with Mastercard technology, reach and experience in facilitating global business payments, freight forwarders will be able to offer their customers a fully automated service from quote request to payment settlement. Companies within the global freight ecosystem who leverage this integrated solution will benefit from faster and guaranteed payment – avoiding errors and saving money.

Stargo recently integrated its service with BluJay Solutions, a supply chain software and services provider for the global freight industry. A pilot involving the three companies is planned to launch later this year.