NYK offers e-money platform to seafarers

NYK offers e-money platform to seafarers
GENIVI FACTAO August 07, 2019 https://www.manilatimes.net/nyk-offers-e-money-platform-to-seafarers/596...

NYK Line has established an electronic money (e-money) platform business to realize the digitalization in the maritime community, particularly for Filipino seafarers.

NYK formed a joint venture with Philippine-based Transnational Diversified Group (TDG) to form an electronic money platform called “MarCoPay” for seafarers.

TDG is a globally competitive and highly progressive Philippine-owned business group that is comprised of over 40 companies, primarily in logistics; ship management and manpower; travel and tourism; information and communications technology; and other investments in industries such as renewable energy, agriculture and real estate.

The name MarCoPay comes from the Maritime Community. MarcoPay Inc. is 50 percent owned by NYK and 50 percent by TDG to be led by Toshiaki Fujioka, president and chief executive officer. Its full service is set to be launched in January 2020.

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 on board and send money to their home countries and withdraw cash from ATMs (automated teller machines) anywhere in the world,” NYK said.

NYK has collaborated with Accenture and Citi to form a world-class and highly secure platform, which contributes to the enhancement of the lives of seafarers and their families.

Accenture is a global leader in helping financial services companies become digital, and Citi is a world’s leading financial services company.

MarCoPay aims to contribute to an environment in which they can obtain further favorable 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. It continues to add new functions, and collaborate with diverse retailers and service providers. Thus, NYK believes MarCoPay will transform into a global platform, which will support the lives of seafarers and their families around the world.

On July 24, NYK-Fil Ship Management Inc. celebrated its 30th anniversary with the completion of its renovated head office in Manila.

NYK-Fil is a joint venture company founded by NYK and TDG in 1989 for training, development and management of Filipino seafarers on NYK-operated vessels.

The ceremony was attended by NYK senior adviser Yasumi Kudo, TDG Chairman J. Roberto Delgado and NYK-Fil President Josephine Francisco.

NYK-Fil now provides Filipino seafarers to more than 200 vessels managed by NYK, and is overseeing the promotion of captains and chief engineers to high-risk NYK ships such as VLCCs and liquefied natural gas carriers.

Kudo said the 30 years of partnership is indeed a milestone: “I am very proud that NYK-FIL has consistently delivered on its long-term mission with unwavering and steadfast commitment to its purpose: to provide competent marine personnel for the NYK fleet, and carrying the precious trust of our customers in safely delivering their cargoes that are valuable to many people across the world.”

NYK-Fil will continue to contribute to NYK’s safe and high-quality marine transport services by providing excellent Filipino seafarers to the NYK Group.