MarTrust is an international payroll remittance service for seafarers, developed by the Marcura Group, a digital transformation solution provider focusing on the ocean shipping industry.
MarTrust will provide seafarers with an e-wallet account and an associated global debit card, enabling bank transfers, e-wallet transactions, and ATM withdrawals worldwide. MOL aims to offer MarTrust to all eligible seafarers by 2024.
Due to international conventions, seafarers' wages are mandated to be deposited in a bank account, yet a portion is traditionally given in cash onboard. MarTrust's introduction facilitates electronic onboard payments and offers benefits through international debit card provision, ensuring compliance and convenience.
Previously, when remitting salaries received in cash to relatives and others, the remittance procedures had to be completed through the seafarer's manning company. There were restrictions on where the money could be sent, and it took about a month for the money to be transferred. With the introduction of MarTrust, seafarers will be able to receive their cash paychecks on a mobile application and send the money directly to the payee of their choice in a matter of days.
The seafarer may not have a credit card that can be used worldwide, depending on the nationality. In such cases, there are restrictions on online shopping, and purchases at ports of call must be made in cash only, which can lead to the inconvenience of currency exchange. MarTrust's accompanying debit card is almost universally accepted, making online shopping and port of call purchases easier.
Before MarTrust, part of the salary was paid in cash, so the captain was mainly responsible for managing the income and expenditures onboard the vessel and reporting to the ship management company, but digitisation will streamline this process.
Receiving all cash payments on the mobile application also eliminates the risk of lost cash.
From April to July 2023, MOL conducted trials of MarTrust on its group company-managed vessels, and the decision to fully introduce the service was based on the many comments from seafarers who participated in the trials on the need for the service, as well as its benefits.
MOL is committed to improving convenience and engagement for seafarers, increasing the operational efficiency of ship management companies, and pursuing DX on board.
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