Japanese shipping giant Nippon Yusen Kaisha (NYK) has acquired Kadmos, a global maritime salary payments platform founded in Germany four years ago. This move expands NYK’s financial services capabilities.
In 2019, NYK launched MarCoPay in Manila, aimed at providing financial support to Filipino seafarers through loans and insurance. It has since become the only digital salary payments provider for Filipino seafarers with an electronic money issuer license from the Bangko Sentral ng Pilipinas, the Philippines’ central bank.
The acquisition of Kadmos allows NYK to integrate a platform that caters to seafarers of various nationalities within its digital payments portfolio. The company plans to enhance collaboration between MarCoPay and Kadmos by unifying their platforms, thereby broadening its service offerings in the maritime sector.
This strategic acquisition reflects NYK’s commitment to improving financial services for seafarers globally, ensuring better support for their well-being and that of their families.
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