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4TIGO LAUNCHES CASHLESS PAYMENT SYSTEM FOR GOODS TRANSPORT INDUSTRY

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[vc_row][vc_column][vc_column_text]Logistics startup 4TiGO is paving the way for transporters to join the mainstream cashless economy with an innovative bank- to-bank payment system designed specifically for the Indian transport industry.

 

After launching the new technology in Salem on Thursday, co-founder and chief of strategy and marketing Vivek Malhotra said the cloud-based technology platform and complementary business services of 4TiGO bring various stakeholders in the logistics industry including consignors, consignees, fleet owners, transport companies and agencies together onto a common platform and enable them to exchange information, transact and manage their entire business.

“All the transactions made on the platform are cashless and securely facilitated through 4TiGO’s partnership with Federal Bank,” Malhotra said.

 

Additionally, 4TiGO has announced the facilitation of working capital credit for the transporters on its network. Through the extension of credit, 4TiGO aims at boosting the business of truck drivers, fleet owners and MSMEs (micro, small and medium enterprises) and drive the smooth management of cash flow that could support their business requirements. “The startup has been funded by Infosys co-founder Nandan Nilekani and Accel partners,” Malhotra said.

 

According to him, the idea is for a truck driver, anywhere in India, to be able to find a load, seal the deal and be on his way, all in just three clicks. “To achieve this, we have created an intuitive user-interface by combining 14 streams of technology,” he said and added that by using 4TiGO’s platform, they would also be able to gain additional earning of about Rs. 25,000 a month on each truck.

 

4TiGO, currently operating in Tamil Nadu, Karnataka, Kerala, Andhra Pradesh, Telangana, Puducherry, south Maharashtra and Gujarat.[/vc_column_text][/vc_column][/vc_row]

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