Going cashless is the norm of today, so much so that even goods transportation services are trying to make the best use of it. A logistic start- up, 4TiGo has launched an innovative bank-to-bank payment system designed for the Indian transport industry. This will surely pave way for transporters to join the mainstream cashless economy.
This initiative will bring most of the stakeholders (consignees, consignors, fleet owners, transport companies and agencies) on a common platform. This will also help them transact, exchange information and manage their entire business in an organized way.
Vivek Malhotra, co-founder and chief of strategy said,”All the transactions made on 4TiGo’s platform are cashless and securely facilitated through a partnership with Federal Bank.”In addition to this, the start-up has also announced the facilitation of working capital credit for the goods transporters on its network. Mr. Malhotra also said that the start-up was funded by Infosys co-founder Nandan Nilekani and Accel partners.
The idea is to ensure that the goods transportation services, particularly a truck driver to be able to load, seal the deal and go ahead in just three clicks. This will also help them earn an additional earning of Rs.25,000 on every truck every month. The 4TiGo platform has an intuitive user-interface that is created by combining 14 streams of technology. Currently , this facility is operating in Karnataka, Kerala, Tamil Nadu, Telngana, Andhra Pradesh, Gujrat and south Maharashtra.
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