Streamlining International Payment Solutions for the Marine Industry

The marine industry is a complex and global market, with international transactions playing a crucial role in its operations. With the rise of e-commerce and digital payments, the industry is shifting towards more efficient and secure payment solutions.

Shipping companies can benefit from using SWIFT (Society for Worldwide Interbank Financial Telecommunication) for international transactions, which enables them to send and receive payments in a timely and secure manner. This can help reduce the risk of payment errors and delays.

The use of SWIFT has been shown to improve payment processing times by up to 50%, allowing shipping companies to make faster payments and receive payments more quickly. This can have a significant impact on their cash flow and overall operations.

In addition to SWIFT, some shipping companies are also using alternative payment methods, such as online payment platforms and mobile wallets, to facilitate international transactions. These platforms can provide a more convenient and user-friendly experience for customers and merchants alike.

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ShipMoney has formed strategic partnerships with several major players in the marine industry, including V. Group, Thome Group, Bernhard Schulte Shipmanagement, and SeaDream.

These partnerships enable ShipMoney to provide digital payment solutions for crew wages and other maritime payments. ShipMoney's platform allows seafarers to manage their finances more efficiently and securely.

ShipMoney's partnership with V. Group, for example, enables V. Group to make international corporate remittances, network payments, money transfers, and all other forms of shoreside and onboard payments.

ShipMoney is also working with Thome Group to facilitate crew payments for Thome Group's global fleet of around 12,000 seafarers.

Bernhard Schulte Shipmanagement has expanded its agreement with ShipMoney to include its global fleet, reinforcing BSM's commitment to digitizing its payment processes.

SeaDream, a luxury yachting experience provider, has partnered with ShipMoney to enable its dedicated crews to manage their finances wherever they are in the world.

ShipMoney has won the prestigious Marine Digital Technology Award, organized by Seatrade Maritime in association with Lloyd’s List. This award is considered the industry's leading awards programme.

The award ceremony was held online, where 14 outstanding winners were recognized for their contributions to the marine industry.

ShipMoney is a global maritime provider of digital payment solutions, making it a significant player in the industry.

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ShipMoney has expanded its agreement with Bernhard Schulte Shipmanagement (BSM) to include the ship manager's global fleet.

This reinforces BSM's commitment to digitizing its payment processes to enable greater financial management efficiencies for all crew wages and CTM payments.

BSM's global fleet is now covered under the agreement, which is a significant step towards streamlining payment processes for the ship manager.

By partnering with ShipMoney, BSM is offering seafarers freedom and flexibility to manage their finances wherever they are in the world.

This is a major benefit for seafarers, who often face challenges in managing their finances while at sea or in foreign ports.

With ShipMoney's digital payment solutions, seafarers can now access their money easily and securely, regardless of their location.

Payment solutions for the marine industry have come a long way, and companies like Nium and ShipMoney are leading the charge. They offer a range of innovative solutions to help shipping companies and their seafarers manage finances more efficiently.

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Nium's maritime payments solution provides an efficient and cost-saving way for shipping company management to digitalise payments, including disbursing payroll and making vendor payments. This solution includes the launch of BSM-branded multi-currency Visa debit cards and eWallet services for seafarers.

Shipping companies can now disburse salary payouts directly to seafarers' Virtual Visa card accounts, accessible via the Nium Pay app. This allows crew members to access their wages from anywhere in the world, send money overseas, and process card-to-card transfers.

Nium's solution combines its "Pay In" and "Pay Out" capabilities, allowing shipping companies to reduce or eliminate the use of cash on ships through QR payments, launch branded e-wallets with Card Payments and Remittance services, and comply with international banking regulations.

Here are some key benefits of Nium's maritime payments solution:

ShipMoney has also expanded its agreement with Bernhard Schulte Shipmanagement (BSM) to include the ship manager's global fleet, reinforcing BSM's commitment to digitizing its payment processes.

ShipMoney's innovative Money Transfer Scheduler allows seafarers to preschedule automated transfers from their ShipMoney cards to bank accounts, companion cards, as well as for cash pickup via MoneyGram, TransFast and soon, Western Union.

With Foreign exchange solutions, you can take advantage of cost-effective options for your business, including forward contracts, market orders, and contract options.

ShipMoney's digital payment solutions provide a convenient and efficient way to manage your international payments, helping you save time and reduce financial stress.

By using forward contracts, you can lock in exchange rates for future transactions, protecting your business from currency fluctuations and ensuring predictable costs.

Their solutions cater to the unique needs of the marine industry, making it easier for companies to manage their international payments and stay competitive in the global market.

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Nium offers a comprehensive solution for maritime companies to manage global payments securely and cost-effectively.

With Nium, shipping companies can disburse salary payouts directly to seafarers' Virtual Visa card accounts, accessible via the Nium Pay app.

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Seafarers can access their wages from anywhere in the world, while onboard or on land, and send money overseas instantly.

Nium's solution includes launching branded e-wallets with card payments, remittance, multi-currency functionality, and travel insurance services.

Shipping companies can reduce or eliminate the use of cash on ships through QR payments.

Nium's unique solution combines "Pay In" and "Pay Out" capabilities, allowing shipping companies to track remittance payments and send payments in real-time.

Nium currently offers Pay-Outs to more than 100 countries, with 65+ countries available in real-time.

Here are some benefits of using Nium's global payment solution:

ShipMoney Secure is a security feature developed to help keep seafarer accounts safe from cyber-attacks. It ensures that transactions are only initiated from the seafarer's account.

With ShipMoney Secure, users register their personal device(s) to prevent unauthorized access. This adds an extra layer of security to prevent cyber-attacks.

ShipMoney is an industry leading provider of payment solutions for maritime companies throughout the world. They leverage a proprietary digital platform and an innovative suite of services to help their clients.

ShipMoney Secure helps protect against unauthorized access by only allowing transactions from registered devices. This feature is designed to give seafarers peace of mind while managing their finances.

The security feature is available for various types of payments, including: