ShipMoney issued a Master Expense eWallet and corresponding Visa Card for each Ship Welfare Fund designating each with a unique naming configuration. Now, all of the client’s SWFs are digitally organized and corporate accounting can access automated reconciliation reports across the entire fleet.
Master Expense eWallets can be funded instantly and funds can be transferred between ship accounts in real time which helps treasury and keeps fleet-wide cash reserves more intelligently allocated. The cards allow masters to make critical purchases wherever Visa is accepted – both online and in person – and reporting is as simple as emailing scanned receipts to the payroll team.
As an example of ShipMoney solutions in action, one ship wanted to use SWF funds to print t-shirts for a crew incentive. The merchant they selected couldn’t accept cards, so the captain used ShipMoney to send a payment voucher via MoneyGram, which the merchant picked up locally in cash. Even in places where cards can’t be used, ShipMoney has developed ways to help make digital payments possible.