Digital crew payment solutions for the cruise industry, developed over a decade ago, changed the way that the global cruise industry administers and manages payroll and came to the rescue of many of the estimated 400,000 crew stuck aboard at the peak of the pandemic. The same system has been successfully introduced to the commercial shipping sector.
The developer of this payment process, ShipMoney, is one of the many new tech exhibitors at this year’s Posidonia, where it hopes to create awareness about its payment solution.
“Getting paid on time is a fundamental human right, a contractual obligation and many seafarers’ families rely on money being sent home,” said the company’s president, Stuart Ostrow.
“Using this system has major advantages for shipping companies as they can completely eliminate cash from their entire fleet, providing ShipMoney cards for crew as well as providing a customized expense card solution for the vessel. The savings for companies using our technology are very significant in terms of direct CTM costs as well freeing up working capital that is sitting idle on the ships,” added the ShipMoney head.