NYK buys German crew payment platform

In a strategic move to enhance its digital payment services, Japanese shipping giant Nippon Yusen Kaisha (NYK) has announced the acquisition of Kadmos, a maritime salary payments platform based in Germany. Founded just four years ago, Kadmos offers an end-to-end solution for salary payments to seafarers worldwide. This acquisition is set to broaden NYK’s existing financial services, particularly its focus on supporting seafarers from various nationalities.

Strengthening Financial Services for Seafarers

NYK has been actively involved in maritime financial services since 2019 when it launched MarCoPay in Manila. This platform was designed to provide loans and insurance aimed at improving the welfare of Filipino seafarers and their families. MarCoPay has established itself as a key player in the market, being 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.

New Fuels, New Challenges | Hellenic Shipping News Worldwide

The acquisition of Kadmos marks a significant step for NYK as it seeks to expand its digital payment capabilities beyond the Filipino market. By integrating Kadmos into its existing operations, NYK plans to create a unified platform that caters to seafarers of all nationalities. This move not only enhances NYK’s service offerings but also strengthens its commitment to improving the financial well-being of maritime workers globally. The collaboration between NYK and Kadmos is expected to foster innovation in maritime financial services, making salary payments more efficient and accessible for seafarers around the world.