Bühler GmbHTMS Awards 2023ViganSailors SocietyCimbriaPort of Stockton
  • Geneva Dry
  • Port of Stockton
  • Van Aalst
  • Cimbria
  • TMS Awards 2023
  • Bühler GmbH

ShipMoney and V.Group form crew and corporate payments partnership

(Posted on 14/10/22)

ShipMoney has announced a new long-term strategic partnership with V. Group to digitalize its seafarers’ payroll system, ensuring a more secure and efficient way to pay its workforce. In addition to crew payments, the agreement enables V. Group to make international corporate remittances, network payments, money transfers and all other forms of shoreside and onboard payments.

The ShipMoney Account Management System is robust but simple to use and manage compared to the usual systems and meth¬ods for crew payment. Companies using ShipMoney’s system can pay crew members instantly with a single file upload or from their own crewing/payroll system via an API integration. The digital platform provides flexibility and offers transparency to clients who benefit from significant savings on wire transfers and cash-to-master costs.

“The reason we chose ShipMoney is because of their extensive experience and knowledge with implementing and managing a diverse group of global maritime clients along with their System that complies with all relevant financial conduct authorities, protects data of the individual and enables us to remain compliant with current international sanctions. Key components of V. Group’ growth strategy is our core focus on seafarers and digitalization, beyond good enough. This partnership with ShipMoney will help us on our digital journey by ensuring we have the right platforms in place with expansion in mind, while importantly also providing significant benefits for seafarer’s wellbeing.” said René Kofod-Olsen, CEO of V. Group.

Founder and President of ShipMoney, Stuart Ostrow said: “I’m delighted about this partnership with V. Group as it demonstrates how forward-thinking ship managers and operators are putting their seafarers first. Crews have been through a particularly torrid time in recent years so helping them to get paid on time removes a significant burden from their already stressful lives.”

“V. Group recognizes that using our system has major advantages for their finances as they can completely eliminate cash from their entire fleet by providing ShipMoney cards for crew as well as providing a customized expense card solution for the vessel. The savings for companies using our technology are very significant in terms of direct CTM costs as well freeing up working capital that is sitting idle on the ships,” he continued.

Latest News

Diverse Algoma fleet contributes to revenue growth

(Posted on 29/02/24)

Algoma Central Corporation has reported its results for the year ended December 31, 2023. Algoma reported... Read more

Liberian Registry establishes innovation and Energy Transition Team ??

(Posted on 29/02/24)

The Liberian Registry, the world’s largest shipping registry, has furthered its commitment to... Read more

Swedish Club widens enhanced PEME programme

(Posted on 28/02/24)

It is well known that a healthy crew is a safe crew, and that the physical and mental wellbeing of seafarers... Read more

Fleet announces strategic leadership transition in its 30th year

(Posted on 22/02/24)

Fleet Management Limited (FLEET), the world’s largest third-party ship management company, has... Read more

OceanScore: Asian shipowners face hefty EU-bound emissions liabilities

(Posted on 22/02/24)

Asian shipowners with vessels sailing to and from Europe are likely to face estimated emissions liabilities... Read more

VIKAND supports V.Ships Greece with mental health training

(Posted on 22/02/24)

VIKAND, the global leader in maritime healthcare, is providing V.Ships Greece with officer training... Read more

RMI Maritime Administrator awards AiP for Anemoi Rotor Sails

(Posted on 14/02/24)

The Republic of the Marshall Islands (RMI) Maritime Administrator has awarded an Approval in Principle... Read more

Ambrey and ISS join to revolutionise maritime safety and security

(Posted on 14/02/24)

Ambrey and Inchcape Shipping Services (ISS) have announce a strategic partnership aimed at transforming... Read more

ShipMoney celebrating 10 years providing digital payment solutions

(Posted on 14/02/24)

Founded in 2013 by Stuart Ostrow, a Florida-based CPA and entrepreneur, ShipMoney set out to challenge... Read more

ClassNK launches shipping and shipbuilding e-learning courses

(Posted on 14/02/24)

ClassNK has introduced E-Learning courses offered through its training and education service, &ldquo... Read more

TelestackPort of South LouisianaVan AalstGeneva DryTBA Group
  • TBA Group
  • Sailors Society
  • Telestack
  • Port of South Louisiana

Subscribe to our newsletter

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