Columbia Shipmanagement (CSM) has announced a partnership with Berlin-based Fintech Kadmos to automate and digitalize its seafarers’ salary payouts.
As explained, Kadmos’ technology will drastically improve the way CSM crews receive and manage their salaries, enabling greater self-service opportunities while seafarers obtain more security and flexibility with their salary payouts.
Mark O’Neil, CEO of CSM, said: “We strongly support and encourage new players in the shipping industry to challenge the status quo and to reform and update outdated practices in line with the dynamic expectations of their clients.”
Former Capt. Roy Machart, Global Key Account Director Marine at Kadmos, explains, “We are excited to start helping the seafarers at CSM get more out of their salaries while making sure that they are keeping their money safe and secure.”
Mr O’Neil added: “This partnership and the implementation of Kadmos’ secure and digitalized payment solution to our fleet is part of our wider endeavour to increase the welfare of our crew on board whilst also looking at innovative ways we can limit the costs for our clients. Adding services like this to our portfolio underscores CSM’s commitment to be a leader in innovation and performance throughout the fast-paced maritime environment.”
By using the Kadmos app, CSM is able to offer its employees personal EU-based e-wallets and debit cards that can be used worldwide. The reduction of physical cash while simplifying and digitalizing the way cash advancements are paid to crews, constitutes major developments in helping seafarers.
Additionally, the e-wallet allows seafarers to hold their money in stable currencies such as US Dollars or Euros. With Kadmos e-wallets, seafarers can transfer money easier than ever before while the debit cards tied to their accounts provide for greater flexibility when withdrawing cash or making purchases.
