ProducePay Supports International Shipments With Quick-Pay Financing Solution; Patrick McCullough Comments
LOS ANGELES, CA - ProducePay is bringing an advantageous solution to European markets with the expansion of its Quick-Pay service. As a result of this growth, the company will now support trade with buyers in Europe via ocean freight from Latin America.
“With produce supply chains becoming increasingly more global, our members are looking for financial solutions that help them access new markets and enhance their day-to-day operations,” said ProducePay Chief Executive Officer Patrick McCullough. “The expansion of Quick-Pay eliminates what has historically been a hidden barrier to growth, and is helping to create a more connected global fresh produce supply chain to meet today’s rising demand for fresh produce.”
Quick-Pay’s rollout in Europe will begin in two of the continent’s top importing countries: The Netherlands and Spain. Both are key trade hubs for imported tropical fruit and vegetables. The industry innovator originally expanded its Quick-Pay offering in October 2022 specifically to help Latin American growers ship fresh produce by ocean freight to the United States, a press release explained.
Through this new expansion, the company’s grower members can now receive up to 50 percent of their shipment’s value within 24 hours after it has been shipped to a designated buyer in Europe. These advanced payment options also come with trade protection for growers to trade with confidence and transparency.
As the company explained in the release, with more immediate cash flow through Quick-Pay, Latin American growers have greater freedom and resources to make operational decisions such as expanding their business, diversifying their crops, and investing in sustainable practices and technology.
The innovative solution was originally launched in Chile, Colombia, and Peru, and is now available in new markets across Latin America including Ecuador, Guatemala, and Costa Rica. These countries will now be able to ship to the U.S. and the E.U. via marine freight.
Click here to read more about ProducePay’s expanding Quick-Pay service.
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