Nium launches a global payment solution for maritime companies

SINGAPORE, May 17, 2021 / PRNewswire / – Nium, one of the world’s leading payment platforms, today announced the launch of its maritime payment solution, aimed at digitizing the payment experience for shipping companies, their management , sailors and their families. The Nium maritime payment solution leverages the company’s global licensing network and integrated technology stack to enable real-time payroll disbursements, vendor payments, e-wallet services and remittances.

“Technological development in the shipping industry is accelerating as shipping companies and their sailors research modern ways to move money,” said Gitesh Athavale, Head of sales, South East Asia and Hong Kong. “Our marine payment solution provides an efficient and cost-effective way for shipping line management to digitize payments, including payroll disbursement and vendor payments. Their sailors benefit from a convenient and modern way to send and receive money simply or spend it on board – all with the convenience of a simple app. “

A leader in integrated maritime services, Bernhard Schulte Shipmanagement (BSM) is the first to use Nium’s maritime payment solution for its expense management process. The solution includes the launch of BSM-branded multi-currency Visa debit cards and e-wallet services for its entire seafaring population. An additional Visa card will also be available for the families of seafarers.

BSM Financial Manager, Dennis moehlmann, said: “It is important to us that our crew and their families are well taken care of, especially in these uncertain times when our crews are not allowed to disembark and cannot physically send funds home. Now, with this new digital payment solution from Nium, no matter what part of the world our crews are in at that time, funds can be transferred in an instant and their families will receive the money transferred immediately to their additional card or their personal account. That’s the peace of mind we want to give our crew. “

Shipping companies will be able to pay wages directly into seafarers’ virtual Visa card accounts which can be accessed through the Nium Pay application. Using Visa’s Nium Pay app and virtual card technology, crew members can immediately access their pay from anywhere in the world, on board or ashore; send money abroad; and process card-to-card transfers, make online purchases and use their Nium virtual cards with mobile wallets on board.

Nium has developed a comprehensive solution to help shipping companies tackle the myriad of traditional payment problems. Nium’s unique solution combines its “Pay In” and “Pay Out” capabilities, enabling shipping companies to:

  • Reduce or even eliminate the use of cash on ships thanks to QR payments;
  • Launch branded e-wallets with card payments, remittances, multi-currency functionality and travel insurance[1] services;
  • Apply exclusive rates for inter- and intra-company cross-border payments (fund transfers can be made regardless of internet connectivity[2]);
  • Comply with payroll and delivery and international banking regulations, including Philippines’ Decision of the Foreign Employment Administration (POEA) regarding payments to seafarers;
  • Easily track installments; and
  • Send payments in real time[3]

Nium currently offers payments in over 100 countries, 65+ in real time. Payments are available for bank accounts, Visa / UnionPay cards, and AliPay wallets.

For more information on the Nium Maritime payment solution, please visit: https://www.nium.com/maritime/.

About Bernhard Schulte Shipmanagement

Bernhard Schulte Shipmanagement (BSM) is a provider of integrated maritime solutions. Managing a fleet of 600 vessels, 18,000 sailors and 2,000 shore-based employees enables the provision of safe, reliable and efficient vessel management services through a network of 11 management vessels, 24 crew services and four wholly owned maritime training centers around the world. In addition to comprehensive vessel management services, BSM offers a suite of complementary maritime solutions that are customized to meet individual customer needs. As a member of the Schulte Group, BSM benefits from over 135 years of experience in the shipping industry.

For more information, please visit our website www.bs-shipmanagement.com.

About Nium

Nium is a next-generation financial services platform that enables businesses around the world to unlock new revenue opportunities and improve cash flow economics. Nium is a leader in its geographic scope and payment services, licensed in the world’s largest and most dynamic economies. Our modular platform enables banks, payment providers, travel agencies, and other businesses to raise and disburse funds in local currencies in over 100 countries, as well as issue physical cards and virtual worldwide. Our exclusive set of APIs integrate financial services and can bring multiple B2B and B2C use cases to life within weeks.

Nium is part of CB Insights Fintech 250, which highlights the world’s most promising Fintech companies. Today, Nium serves more than 130 million customers and enables platforms to provide access to financial services to more than 3 billion people around the world.

For more information visit: http://www.Nium.com

[1] The travel insurance service will be launched in the near future.
[2] Login required for balances update.
[3] In all major currencies including, but not limited to: CAN, GBP, Euros and USD. For the full list of supported currencies, please refer to: https://www.nium.com/network/.

Photo – https://mma.prnewswire.com/media/1510407/BSM_Nium_Pay_App.jpg
Logo – https://mma.prnewswire.com/media/1326735/Nium_Logo.jpg

Related links

https://www.nium.com/

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