The Wolfson Centre for Bulk Solids Handling Technology

ShipMoney enhances account security

(Posted on 06/11/20)

Maritime Payment Solutions, LLC (ShipMoney), a global, industry-leading provider of payment solutions for maritime companies, has announced the introduction of ShipMoney Secure, a security feature developed to help keep seafarer accounts safe from cyber-attacks.

With ShipMoney Secure, users will register their personal device(s) to ensure that transactions are only initiated from the seafarer’s account. Anybody who attempts to log in to their account from an unregistered device is asked a security question and blocked if unable to correctly answer.

Stuart Ostrow, President and Founder of ShipMoney, said: “In these times of unprecedented cyber-attacks and phishing, nothing is more important than protecting the hard-earned money of seafarers. The well-being of crew is our top priority as a company and ShipMoney Secure adds a strong layer of protection to their accounts. We are confident that our system is the most secure in the industry.”

In addition to device registration, ShipMoney has developed several other security features, including the use of one-time codes using two-factor authentication, the use of Visa 3D secure 2.0 for online purchases, and other proprietary features to reduce the risk of fraud.

Mr. Ostrow further noted, “At ShipMoney, our overarching objective is to continually develop our platform with innovative services that are timely and add significant value, while enhancing functionality to improve the account holder experience. A number of exciting developments are in the works and will soon be introduced.”