- Underscore potential for digital payments on the first anniversary of the project
Santo Domingo, N.D. May 11, 2021 – On the occasion of the first anniversary of the digitalization of payment flows of the logistics ecosystem in the Dominican Republic, the partners of this international alliance, DP World, Mastercard, Banco Popular Dominicano and AZUL, announced that payments with the new credit card inside the DP World Caucedo terminal, had experienced an average monthly increase of over 62% since the start of the project.
By digitizing the port payments, using the shared-brand credit card, cargo owners and import companies can expedite the payment of their shipping costs remotely and more efficiently.
This translates into a higher volume of operations: since the launch of this strategic alliance, all the companies that use these credit cards have carried out 1,739 transactions in the 11 months that they have been operating.
Easy access to credit
One of the greatest advantages of this project for digitalization of port payments is the fact that import companies have easy access to credit and can expand their working capital, because they have 54 days of grace to pay the transactions made with their credit cards, which is especially beneficial for the segment of pymes companies.
Likewise, customers in DP World Caucedo have an additional limit of 20% above their recurring port payments, so their card have sufficient limit to meet their commitments without exhausting their available credit.
Increase of payments through the digital platform
In addition, through the digital payment platform owned by DP World, BCO Billings, clients can see the invoices and make safe electronic payments, with the support of the AZUL E-commerce payments runway, thereby significantly reducing paperwork for port users, which also translates into an increase in operational efficiency.
So far in 2021 invoicing through the AZUL payments runway has increased by 146% compared to the previous year, and the number of transactions processed increased by 163%.
“This collaboration is fully in line with our business diversification strategy in DP World, whose principal objective is to make trade more efficient, by covering the complete spectrum of the supply chain. We are proud to be able to contribute so that PYMES and cargo owners in general in the Dominican Republic can obtain better access to the global economy and become the engines of economic growth for the country,” stated Mr. Morten Johansen, CEO of DP World in the Dominican Republic.
For his part, Francisco Ramírez, executive vice president of Personal Businesses and Branch Offices of the Banco Popular, stated that “there is a before and after the inclusion of this new credit card for port payments, together with the digitalization of the process in the port ecosystem, recording a significant increase in invoicing by card-holding companies, who have gained in efficiency and greater ease of access to credit, because they have 54 days of grace to pay their cards.”
In addition, the general manager of Digitals Services in Popular, Mr. Eugene Rault Grullón, commented that “this alliance forms part of the active commitment by the AZUL brand in electronic commerce nationally, facilitating the most complete tool for electronic payments on the market in order to optimize port transactions in the country. AZUL E-commerce, a platform that is affiliated with DP World, fulfills the highest international standards for security and stability, which have contributed to the success of this innovation in the region.”
“In Mastercard we feel great satisfaction at the results and impact we have managed to generate during this last year through the alliance with Popular, AZUL, and DP World. It is a great step forward for our cardholders by offering them greater comfort, security, and control, together with the latest in technology. This card, through its program with multiple benefits, allows us to deliver through each payment unique opportunities that are unavailable through cash payments or transfers. As always, we will continue to reinforce our commitment to go further in the digitalization of the Dominican Republic, through actions and solutions that will allow greater financial inclusion,” according to Mastercard´s Country Manager in the Dominican Republic, Gabriel Pascual.
High Degree of Satisfaction
This initiative so far has included the participation of companies in the branches of food and beverage; supermarkets; hardware stores, home appliances, automotive, household goods, and the and other sectors, with a high degree of satisfaction with the use of this means of payment.
The introduction of this credit card into the market and the digitalization of port payments constitute a financial innovation in the market of inter-company payments, thereby facilitating the participation of Dominican companies in international trade.
The digitalization of payments of the port ecosystem in the DP World Caucedo terminal was a world-wise pioneer a year ago, the Dominican Republic being the first country within the DP World network to launch this new service for the logistics industry. On the regional level the company continues to promote the project in alliance with Mastercard, focusing on its next target through the implementation of a pilot program in Ecuador.
About DP World
DP World is the leading provider of smart logistics solutions, enabling the flow of trade across the globe. Our comprehensive range of logistics services encompasses a broad spectrum of integrated supply chain segments – from maritime and overland terminals to marine, logistics and ancillary services, as well as technology-driven commercial solutions.
We provide these services through a portfolio encompassing more than 150 operations in over 50 countries across six continents, giving the company a significant presence in both high-growth and mature markets. Wherever it operates, DP World integrates sustainability and responsible corporate citizenship into its activities, striving for a positive contribution to the economies and communities where we live and work.
This contribution is delivered by our dedicated, diverse and professional team of more than 50,000 employees from over 120 countries, offering value propositions of unrivalled quality to our customers and partners. Without exception, our focus is on mutually beneficial relationships – with governments, shippers, traders, and other stakeholders along the global supply chain – relationships built on a foundation of mutual trust and enduring partnership.
With an unwavering commitment to think ahead, anticipate change, and deploy industry-leading technologies, DP World aims to create the smartest, most efficient and innovative trade solutions on Earth, while ensuring a positive and sustainable impact on the economy, society and our planet.