Maritime Risk International
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.”