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DIABOS launches electronic cash system

Port call management company DIABOS has added a new Pay-Master system to its portfolio of services, which aims to replace traditional cash remittances to vessel captains.

{mprestriction ids="1,2"}Working in partnership with Tramonex and ICS Payments, the service will offer an electronic option to make payments to Masters using Mastercard.

Typical current cash to Master remittances via port agents can suffer from issues such as restrictions on currency or the amounts that can be sent, as well as additional cash delivery costs which can reach 5 to 10 per cent.

The Pay-Master system instead supports payroll/contractor payments using Mastercard cards assigned to the crew, allowing for cash remittances as well as the transfer of bulk monthly salary payments and crew bonus payments via the crew cards.

“Several years ago, DIABOS envisioned the need for a dramatic payment and application infrastructure shift to manage the pain points experienced by vessel owners when managing the cash to master process,” said Imran Vohra, chief executive officer and president, DIABOS.

“Over the years, we have done extensive research, made strategic technology investments, as well as collaborated with leading service providers in order to evolve our services and offer the DIABOS Pay-Master solution.”{/mprestriction}

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