MarTrust launches new e-wallet and card to improve seafarer well-being – Digital Ship

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The maritime payment solutions company MarTrust, a subsidiary of Marcura, has launched a new electronic wallet and a new card to optimize the payroll process for shipowners.

The e-wallet and card allow crews to get paid faster, compared to traditional banking channels, and give them complete control of their funds and online purchases with reduced risk and lower transaction costs.

The ability to quickly transfer money to anyone they need at any time – especially returning much-needed financial support to their families – will alleviate some of the monetary challenges of being at sea for long periods of time, thus improving their well-being and well-being.

For shipowners and operators, MarTrust’s electronic wallet and company card also reduce Cash-to-Master (CTM) requirements by up to 80%, and therefore the amount of money needed on board a ship. This mitigates the security risk for the asset and crew, while significantly improving working capital. Digitization and simplification of the payroll and CTM process dramatically reduce costs and time, ensure compliance, and online transactions are protected with the latest industry-grade 3D security features.

Currently, the shipping industry relies on multiple urgent, cross-border and cross-border microtransactions to ensure smooth and reliable trade, which can be complex and costly.

MarTrust’s integrated payment solution combines maritime experience with modern e-wallet and prepaid card technology, allowing businesses to transfer funds to multiple accounts and execute pay and CTM transactions with control, transparency and complete security. The e-wallet is accessible through a web portal or mobile app anywhere and anytime and can be seamlessly integrated into existing systems. From there, funds can be easily and securely transferred directly to the crew to pay salaries, bonuses, overtime, and cash advances.

The e-wallet and debit card also reduce the need for sailors to manage or store large amounts of money, providing added security and the peace of mind that their funds are safe. Using the debit card, money can be accessed at any Mastercard-supported ATM or bank machine around the world, and the card can be reloaded in up to eight different currencies, providing full flexibility. . The e-wallet will also include a new Salary on Demand service, which allows seafarers to track and use their income anytime and anywhere, and align them with their spending, further improving their financial well-being and performance. well-being. In addition, it also helps shipping companies optimize their cash flow, eliminate the administrative costs and difficulties associated with maintaining payday advances, and save money on bank transfer fees and other fees associated with CTM payments for advance the wages of seafarers.

“The disruption of the COVID-19 pandemic in day-to-day operations has further highlighted the need to rethink the way cash is used and has accelerated the demand for digital solutions to improve on-board operations and management processes , in particular the payment in cash to the crews and to settle the invoices on board ”, said Errikos Andreakos, Commercial Director of MarTrust.

“Seafarers have experienced unprecedented hardship over the past 18 months, stranded aboard their ships for long periods of time without being able to return home. However, our new e-wallet and new debit card ensure at least now that they can get the much-needed funds back from their families quickly and securely, with no annual fees and at reduced exchange rates. This can make a significant difference in improving the well-being of crews at a time of real challenge for all seafarers, by promoting the retention of ship owners and operators. “


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