CDAS ePayment Solution (CDAS Pay)
The CDAS ePayment Solution (CDAS Pay) aims to help the industry work
With significant cost and time savings for both the depots and transport operators
CDAS ePayment Solution (CDAS Pay) is an industry solution that will help replace the use of cash transactions entirely at the container depots. This system is aimed at boosting productivity by 60 percent for depot and transport companies respectively. Drivers will be able to access an app that calculates total charges due at depots, and payments can be made by the the driver or transport company electronically. By going cashless, a depot operator can save up to 3 hours per day, while a transport company can save up to 25 minutes per driver per day!
The e-payment system will be piloted in July 2020 at CWT Integrated Pte Ltd and Wing Seng Logistics Pte Ltd for three months, before it is implemented across the container logistics industry. Stay tuned for updates on our website!
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Benefits of the e-Payment Solution
Large amounts of cash are exchanged between container depots and transport companies daily when drivers collect and return containers to the depots. With the new e-payment solution, container depots and transport companies can enjoy:
- Greater transparency and assurance of these cash transactions;
- Better efficiency and accuracy in financial and administrative procedures as transactions are digitally processed and recorded;
- Seamless and faster payment process. A depot operator can save up to 3 hours per day, while a transport company can save up to 25 minutes per driver per day (refer to Table A below); and
- Faster turnaround at depots. Drivers will be able to make more trips with the time saved and the industry improves overall
The CDAS ePayment Solution was launched on 6 February 2020, during the Lunar New Year Celebration event.
CDAS and Enterprise Singapore had also issued a joint press release, which can be found here.
During the 2020 Budget speech, the CDAS ePayment Solution was also mentioned briefly. CDAS is hard at work to developing this solution to help address the long-term industry pain points, that aims to help the container depot and logistics players work Faster, Easier, and Better, with significant cost and time savings. Further details about this can also be found in Annex B4 of the budget.
Excerpt from the Budget 2020 (Credits: CNA Youtube)
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