Reflecting on a Decade of Innovation: ShipMoney’s Journey in the Maritime Industry
Join us for a look back on our first 10 years. Through every image in this video, we celebrate our commitment to serving customers and clients. The snapshots from all corners of the globe reflect our dedication to understanding the diverse cultures that make up the maritime family.
Over the past decade, ShipMoney has been at the forefront of introducing groundbreaking digital payment solutions to the maritime sector. This journey reflects not only a series of significant firsts but also a steadfast commitment to transforming the financial well-being of seafarers across the globe.
Founded in 2013 by Stuart Ostrow, an entrepreneur from Florida, ShipMoney embarked on a mission to modernize the traditional, cash-reliant payment systems that had dominated the maritime industry for years. The inception of ShipMoney was driven by a vision to offer seafarers a more secure, efficient, and accessible way to manage their earnings.
The path was not without its challenges. The maritime industry, known for its resilience and adherence to tradition, presented formidable obstacles. Yet, through determination and innovative thinking, ShipMoney introduced a series of firsts that have since reshaped the landscape of maritime financial transactions:
● The introduction of a wire service enabling crew members to transfer funds while still onboard marked a significant leap forward.
● The launch of the first maritime card program by a major cruise line, offering unprecedented convenience to seafarers.
● The ability for onboard card personalization, which removed the logistical challenge of mailing cards.
● The development of a maritime payment platform that supports real-time, two-way data synchronization.
● Enhancements in security through one-time passwords, Visa security codes, and device registration.
● The creation of a responsive website and an integrated mobile app, streamlining the user experience by eliminating the need for app updates.
● The deployment of proprietary technology that allows PIN changes to be updated directly on card chips via ATMs.
Today, ShipMoney’s virtual cards and payment application are utilized by thousands of seafarers worldwide, heralding a new era of financial security and convenience at sea. The platform not only benefits crew members but also shoreside operations teams, enabling instant payments to suppliers and agents.
Recognizing the sacrifices made by crew members, who spend months away from their families to support the global supply chain, ShipMoney aims to provide a customized tool for managing finances with ease and security.
Stuart Ostrow, the founder and president of ShipMoney, emphasizes the company’s core philosophy: putting crewmembers first, “Our mantra is, ‘It’s all about the seafarer”.
