As global trade expands, the demand for seamless cross-border payment solutions is growing.
ShipMoney announces a long-term strategic partnership with Monavate, an innovative UK based Fintech company.
This collaboration provides the company with expanded banking and issuing services offering ship owners and managers with more efficient and reliable payment options.
As the demand for seamless digital transactions continues to grow along with the necessity for crews to have digital access to their finances while onboard, this partnership marks an expansion to ShipMoney’s bank-issuing relationships mitigating the risk associated with single source banking partnerships.
The collaboration will enable ShipMoney to leverage Monavate's advanced banking solutions and technology. Together, the two companies will work towards creating a more robust platform that enhances user experience and flexibility, increases transaction speed, and broadens the range of services offered to customers.
President of ShipMoney, Stuart Ostrow said: "We are thrilled to partner with Monavate. This partnership represents a significant step forward in our mission to provide unparalleled payment solutions to the maritime industry. By expanding our bank issuing relationships, we can offer provide assurance to our clients and account holders that we offer redundancy and continuity to a critical aspect of our business.
“It is now apparent that giving crew members access to their finances digitally is crucial for their wellbeing, and ensures they can send money home without interfering with their restricted shore-leave with long bank queues. We are proud to be collaborating with Monavate and are delighted to boost our banking relationships and ensure innovative, reliable and simplified processes for our customers and end-users.”
Monavate's expertise in banking and payment technology aligns perfectly with ShipMoney's vision of creating a comprehensive and user-friendly payment ecosystem. The partnership will enable both companies to explore new opportunities and drive innovation in the crew payments sector.
Scott Lucas, President of Monavate, said: ““At Monavate, we’re thrilled to partner with ShipMoney, a recognised leader in maritime financial solutions. This collaboration allows us to bring innovative, reliable payment solutions to a crucial global industry. Together, we’re setting a new standard for efficiency and ease in maritime payments, empowering businesses and crews alike to operate with confidence.”