On June 12, Nippon Yusen Kabushiki Kaisha (NYK) announced a significant acquisition, reaching an agreement to acquire 100% of Kadmos Holding GmbH, a global provider of end-to-end maritime salary payments based in Germany. Founded in 2021, Kadmos operates from Berlin and London, specializing in salary payment solutions for shipowners, ship-management companies, and the global workforce of seafarers.
NYK’s existing venture into maritime financial services began in 2019 when it established MarCoPay Inc. in Manila, Philippines. This platform has grown to offer loans and insurance aimed at enhancing the welfare of Filipino seafarers and their families. MarCoPay has carved out a niche by becoming the sole digital-salary payments provider for Filipino seafarers, holding an electronic money issuer license from Bangko Sentral ng Pilipinas, the central bank of the Philippines.
The acquisition of Kadmos represents a strategic effort by NYK to broaden its digital payment capabilities to accommodate seafarers from diverse nationalities. By integrating Kadmos’s offerings, NYK aims to enhance its maritime digital payments portfolio, creating comprehensive salary payment solutions for seafarers globally. This collaboration will not only streamline payment processes but also address the specific needs of the Filipino seafarer community, ensuring that they continue to receive timely and efficient salary management.
In summary, this acquisition is a pivotal move for NYK, strengthening its commitment to supporting the maritime workforce with innovative payment solutions, while also improving the financial well-being of seafarers on a global scale. The fusion of MarCoPay and Kadmos holds the potential to revolutionize salary management in the maritime industry, thereby enhancing the overall operational efficiency and welfare of seafarers worldwide.
Source link
