Press release

PayCargo Announces Lionel van der Walt as CEO USA

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PayCargo LLC, which operates a patented online payment system in the
global freight industry providing overnight settlement of invoices
between shippers and carriers, has announced the appointment of Lionel
van der Walt, a veteran of the Air Cargo Industry with more than 20
years of international executive leadership experience, as their
President and Chief Executive Officer (CEO) The Americas. van der Walt
will replace Eduardo Del Riego, who will become the company’s new Global
CEO, effective July 1st.

van der Walt spent over a decade with the International Air Transport
Association (IATA) where he held various leadership roles based out of
South Africa, Spain and the United States, including President at Cargo
Network Services Corp. (CNS), IATA’s U.S. cargo subsidiary. In 2018 he
joined RCI, Inc., who recently rebranded as the International Institute
of Building Enclosure Consultants (IIBEC), to serve as their Chief
Executive Officer, based out of Raleigh, NC. He has also been serving as
a member of PayCargo’s Board of Directors since April of 2018, and has
recently been appointed to serve on the RCI Foundation board.

In December of 2017, IATA and PayCargo, LLC (USA) signed an agreement to
offer the New PayCargo-CNS
System
in the United States and became the online payment processing
engine for expedited payments at U.S. stations of participating Airlines.

As a natural next step, PayCargo signed a global agreement with IATA in
March of this year to offer the IATA-PayCargo
System
. Going forward, PayCargo’s current CEO & President, Eduardo
Del Riego, will lead the company’s global strategies and expansions as
Global CEO.

“We are thrilled to have Lionel join PayCargo as our new CEO,” said
Larry Brandt, chairman of PayCargo’s Board of Directors. “His track
record of leadership, energizing teams, and creating value makes him an
ideal fit. We are confident he will infuse focus and enthusiasm at
PayCargo.”

“I’m excited to begin my new role at PayCargo,” said van der Walt. “It
is an honor to join the world’s leading and fastest growing online
payment platform for the shipping and cargo industry. The company has a
bright future and I look forward to working with Eduardo and the team to
further accelerate the company’s expansion across the Americas. My focus
will be to further strengthen the company as an innovative, dynamic and
nimble financial technology solutions provider, working to maximize
efficiencies and cross industry synergies in order to provide best in
class services to our clients and partners.”

About PayCargo

PayCargo is a patented online payments solution for the Ocean, Air,
Trucking and Rail industries. PayCargo offers electronic tools that
create significant efficiencies by automating the payments process.
PayCargo helps companies in the international supply chain reduce
operating costs, grow profits, dramatically increase cash flow, and
improve overall liquidity. PayCargo, LLC, connects the payer and vendor
for immediate transparency to improve payment communication, and allow
significant cost savings through automation and standardization. www.paycargo.com