Payment deal

Maritime Payment Solutions, LLC (ShipMoney) has signed a strategic business development agreement with S5 Agency World, one of the largest international providers of port agency services. S5 and ShipMoney will work together to educate the maritime industry on the benefits of moving away from cash and complicated payroll solutions to a more digital payment solution as part of the ongoing digitalisation of the industry. ShipMoney’s founder and president Stuart Ostrow said: “In the last year there has been a significant increase in companies looking for alternatives to traditional cash-to-master services and by extension, to the payment of crew wages. Accelerated by the pandemic, we are witnessing a historic shift towards cashless ships.”