ShipMoney’s Virtual Card solution uses Visa technology to enable crew members to immediately access their wages from anywhere in the world, onboard or at home, via the ShipMoney App, while Transfer Marketplace provides and compares a broad range of remittance options allowing crew to transfer monies home in the most cost-effective fashion.
“The need for operational efficiencies and the COVID-19 pandemic, have prompted the shipping industry to embrace digitalization, moving away from the decades old practice of Cash-to-Master to digital payment solutions such as ours,” commented ShipMoney president Stuart Ostrow.
“With ships having difficulty acquiring cash, seafarers are becoming increasingly concerned for their families back home who depend on a regular stream of income. Our ShipMoney Virtual Card allows companies to pay their crew in real-time and more frequently, allowing seafarers to immediately send funds home without the need to go ashore.
“And, of course, they enjoy similar features to those they would have with a physical Visa card,” Ostrow added, “including our suite of remittance options, mobile phone top-ups and online shopping.”
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