- BlueX’s Pay-it-Later service, an integrated payment option of BlueXPay.com, was launched to fill the growing financing gap experienced by small and medium-sized businesses (SMBs) in the supply chain industry.
- Qualified SMBs quickly gain access to funds needed to pay for rising logistics costs like ocean freight, demurrage, and gate fees, 30 to 60 days later.
- For SMBs needing expedited cargo release, BlueX combines Pay-it-Later with an expedited payment to select carriers and ports in the US – an innovative service enabled via direct integrations with ocean carriers and ports through digital port community platforms, enabling direct payments to over 50 North American marine terminals.
- Pay-it-Later represents another innovation by BlueX in providing industry-leading payment and financing solutions powering global B2B logistics and trade online.
March 21st, 2022 – Global trade experiences volatility on a regular basis but recent macro shocks have caused significant price volatility in logistics costs. To address shippers’ stretched balance sheets, BlueX has announced the launch of its latest fintech offering, BlueX Pay-it-Later.
BlueX Pay-it-Later empowers SMB shippers to get more time to pay their logistics costs. As a result, shippers can get better control over their cash flow so they can better manage the growth of their business. The service will enable supply chain industry “shippers” such as importers, exporters, BCOs (Beneficial Cargo Owners), and freight forwarders to gain access to funds for increasing expenses such as ocean freight, demurrage, and detention fees.
For shippers needing expedited cargo release, BlueX combines Pay-it-Later with an expedited payment to select carriers and ports in the U.S. so shippers can get their containers released from the port. With BlueX’s integrations with both marine terminal and ocean carrier payment systems, cargo owners can get their shipments released from select ports in the U.S. in hours. Expedited cargo release has become invaluable for shippers needing to time their payment with truck pickups at ever congested ports.
"The rising costs of our shipping are more manageable thanks to BlueX Pay-it-Later’s funds. As a result, we now have the time to effortlessly get our cargo and products to market and pay back our freight expenses. It’s a game-changer for any business struggling with the rising freight costs," said Josephine Huang, President of Soho Kitchen Studio.
Pay-it-Later represents another innovation by BlueX in providing industry-leading payment and financing solutions powering global B2B logistics and trade online. The latest Pay-it-Later payment option integrates with the BlueX Pay network to make international trade even more frictionless. Not only does the complete solution solve the pain point of payers needing to get their cargo released on time with more time to pay, but it also allows vendors to receive timely payments and get access to cash flow sooner.
“The current volatility and high logistics costs in the market are challenging small and medium-sized shippers who want to grow their business. BlueX’s Pay-it-Later has been designed to enable these shippers with an integrated payment and financing service specifically created for their logistic payment needs. In the future, we believe BlueX will be the payment platform for supply chain payers and vendors seeking to optimize their revenue management for logistics inventory and trade,” said Sean O’Malley, CEO of BlueX Trade.
About BlueX Trade
As a global B2B payments, pay-later, and checkout platform, BlueX enables supply chain players to bring their freight transactions online through BlueX Trade’s eCommerce Platform or their own eCommerce storefront, while also providing AI-driven insights for their global freight shipments – enabling more profitable logistics for over 11,000 carriers, freight forwarders, and shippers.