Mitsui O.S.K. Lines, Ltd. (MOL) is set to implement MarTrust, a customised payment solution designed for all ships under the ship management companies owned by the MOL Group.
With the help of mobile applications, seafarers will now be able to access electronic payment services for a portion of their payroll, which will improve their overall quality of life.
By the fiscal year 2024, MOL intends to make MarTrust available to all eligible seafarers.
MarTrust is a digital transformation solution designed for the maritime industry by the Marcura Group.
It allows seafarers to remit their payroll internationally. The service gives sailors access to an international debit card and e-wallet account, facilitating easy transfers to and from bank accounts and e-wallets via a mobile application, which is easy to handle.
MarTrust’s introduction resulted in several revolutionary improvements and advantages. A few of these are stated below:
i) Quicker Transfers: Seafarers can now send money directly to the recipients of their choice in a matter of days with MarTrust.
ii) Being accessible: Depending on their country of origin, many seafarers might not have a credit card that is accepted everywhere. This restriction frequently makes it impossible to shop online and forces cash transactions at ports, which comes with the hassle of exchanging currencies. These problems are mitigated by the near-universal acceptance of MarTrust’s debit card.
iii) Financial Management: Digitalization of payments will make it much easier to manage the income and expenditure of the ship management company.
iv) Better Security: Since every payment is made electronically through the mobile app, there is no chance of losing cash.
References- Sea News, DCN
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