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May 17, 2021

Nium unveils payments solution for shipping companies

By Johney Amala

Singapore-based payments platform Nium has launched a maritime payments solution to help digitise the payments experience for shipping companies.

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  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
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Leveraging the company’s global licence network and integrated technology stack, Nium maritime payment solution facilitates real-time payroll disbursements, vendor payments, eWallet services, and remittances.

Nium South East Asia and Hong Kong head of sales Gitesh Athavale said: “Our maritime payments solution provides an efficient and cost-saving way for shipping company management to digitalise payments, including disbursing payroll and making vendor payments.”

With Nium’s maritime payment solution, shipping companies can disburse salary pay outs directly to seafarers’ Virtual Visa card accounts that can be accessible through the Nium Pay app.

The crew members can immediately access their wages through the app from anywhere in the world and carry out payments and transactions.

Nium said its new solution has been already adopted by integrated maritime services provider Bernhard Schulte Shipmanagement (BSM) for its Spend Management Process.

The solution includes BSM-branded multi-currency Visa debit cards and eWallet services for the company’s seafarers and a supplementary Visa card for their families.

BSM Finance manager Dennis Moehlmann said: “It is important to us that our crew and their families are well taken care of, especially during these uncertain times when our crews are not allowed to go ashore and cannot physically remit funds back home.

“Now with this new digital payment solution from Nium, no matter which part of the world our crews are at in that moment, funds can be transferred in an instant and their families will receive the transferred money immediately on their supplementary card or their home account.”

Last month, Foreign exchange brand Travelex partnered with Nium to boost digital remittance services.

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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