Port of StocktonVan AalstViganTelestackSailors SocietyIMPA Events
  • Bühler GmbH
  • TMS Awards 2023
  • Van Aalst
  • Telestack
  • Port of Stockton
  • Vigan

CSM partners with Kadmos to automate crews’ salary pay-outs

CSM partners with Kadmos to automate crews’ salary pay-outs

(Posted on 18/07/22)

Columbia Shipmanagement (CSM) has announced a partnership with Berlin-based Fintech Kadmos to automate and digitalize its seafarers’ salary payouts. With a growing demand for better payment options that increase security and transparency,

CSM has selected Kadmos’ salary payment platform which is designed for paying workforces that are dispersed worldwide. 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. This announcement comes soon after Kadmos closed a €29m Series A funding round which will accelerate further technological and product development.

Mark O’Neil, CEO of CSM, said: “Columbia is incredibly excited to have teamed up with Kadmos’ young, dynamic and innovative team of experts who have developed an excellent and secure payment product. 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support and encourage new players in the shipping industry to challenge the status quo and to reform and update outdated practices in line with the dynamic expectations of their clients.”

This partnership will utilize innovative financial technologies, developed by Kadmos’ engineering teams, for paying employees around the world. In choosing Kadmos’ salary payment platform, CSM will help their crews improve the security, speed, and transparency of home remittances while reducing reliance on cash.

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.”

Kadmos has developed its salary payment platform as a response to the outdated and costly ways in which seafarers are being paid. The aim of Kadmos is to help seafarers have more control over their money and improve administrative efficiency for shipping companies.

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.

“CSM has long been at the forefront of innovation in the shipping industry, and we are happy that they chose Kadmos to help make their salary payment processes quicker and more efficient,” adds Kadmos co-founder Sasha Makarovych.

Latest News

Biofuel key to maritime decarbonization, but supply challenges, says DNV

(Posted on 05/06/23)

DNV's latest white paper “Biofuels in shipping” finds that the flexibility of biofuels can... Read more


Don’t regulate shipping in isolation warns INTERCARGO

(Posted on 05/06/23)

Shipping is so global, that only a truly global regulator such as the International Maritime Organization... Read more


Partnership for bulkers advanced decarbonisation modelling capabilities

(Posted on 02/06/23)

Technology group Wärtsilä will partner with Transworld Group to apply the most advanced decarbonisation... Read more


Ronald Spithout appointed as MD of OneHealth by Vikand

(Posted on 02/06/23)

Global healthcare specialist VIKAND has appointed Ronald Spithout as its Managing Director for VIKAND... Read more


Columbia Group opens up in Istanbul

(Posted on 31/05/23)

The Columbia Group has underlined its commitment to the burgeoning Turkish maritime cluster by opening... Read more


ClassNK grants Innovation Endorsement to Fleet Secure Endpoint

(Posted on 31/05/23)

ClassNK has granted its Innovation Endorsement for Products and Solutions to Inmarsat’s Fleet... Read more


INTERCARGO reaches membership milestone

(Posted on 23/05/23)

The International Association of Dry Cargo Shipowners (INTERCARGO) has reached an historic membership... Read more


Largest ship management merger ever

(Posted on 23/05/23)

Competition authorities have now approved the merger of OSM Maritime Group and Thome Group. The merged... Read more


DNV: industry should embrace robust safety culture to tackle transformations

(Posted on 17/05/23)

A new report from DNV and Lloyd’s List Intelligence, “Maritime safety trends 2012-2022:... Read more


Damen opens new service hub in Vietnam

(Posted on 17/05/23)

Damen Services has opened its twelfth service hub, located in South-East Asia at Damen Song Cam shipyard... Read more


TMS Awards 2023TBA GroupTOC Europe 2023Port of South LouisianaBühler GmbHCimbria
  • IMPA Events
  • Cimbria
  • Port of South Louisiana
  • TOC Europe 2023

Subscribe to our newsletter

Keep up to date with the latest global news in bulk cargo handling and shipping