Cookies help us deliver the best experience on our website. By using our website, you agree to our use of cookies Dismiss

NYK establishes electronic payment platform for seafarers

Image courtesy of NYK Image courtesy of NYK

NYK has formed a joint venture with Philippines-based Transnational Diversified Group (TDG) to launch electronic money platform “MarCoPay” for seafarers.

{mprestriction ids="1,2"}MarCoPay is an electronic money platform designed mainly for seafarers hired outside Japan to make digital settlements with QR codes, international remittances and withdraw cash on a smartphone app.

By using MarCoPay to receive their salaries and purchase daily supplies on ships, crew members can go cashless onboard and send money to their home countries and withdraw cash from ATMs anywhere in the world.

While foreign seafarers generally earn more than the average population in their home countries, they’re often not fully recognised and valued socially and economically. This attributes to the state of development the financial infrastructure and local credit systems in their countries are in, as well as their unique term contract. MarCoPay aims to contribute to an environment in which seafarers can obtain favourable conditions for bank loans and insurance coverage with this new electronic money platform.

NYK plans to expand the network in which MarCoPay can be used to shipowners and ship-management companies outside of NYK, continue to add new functions, and collaborate with diverse retailers and service providers.

Find out more via this video https://www.youtube.com/watch?v=psG3RS2tZ_4 {/mprestriction}

Related items

Joomla SEF URLs by Artio

Login/Register

Register or Login to view even more of our content. Basic registration is free.

Register now

Digital Ship magazine provides the latest information about maritime satellite communications technology, software systems, navigation technology, computer networks, data management and TMSA. It is published ten times a year.

 

Address:
Digital Ship Ltd
Digital Ship - Digital Energy Journal
39-41 North Road
London
N7 9DP
United Kingdom

Copyright © 2019 Digital Ship Ltd. All rights reserved           Cookie Policy         Privacy Policy

x