NYK Establishes "MarCoPay," an Electronic Money Platform Business to Expand Globaly
July 25, 2019

As a part of a medium-term management plan to promote digitalization, NYK formed a joint venture with Philippines-based Transnational Diversified Group (TDG*) to launch electronic money platform “MarCoPay” for seafarers.

Collaborating with Accenture, a global leader in helping financial services companies become digital, and Citi, a world’s leading financial services company, NYK plans to form a world-class and highly secure platform which contributes to enhance the lives of seafarers and their families.

1. Business Company Overview

Company: MarCoPay Inc.
Headquarters: Manila, the Philippines
Shareholders: NYK (50%), TDG (50%)
Established: July 12th, 2019
Representative: Toshiaki Fujioka, President Director, CEO
Service launch date: January 2020 (schedule)

* The name MarCoPay comes from Maritime Community Pay.

2. What Can Be Achieved by Using MarCoPay?

MarCoPay is an electronic money platform designed mainly for seafarers hired outside Japan to make digital settlements with QR codes, international remittances and withdraw cash on a smartphone app.

By using MarCoPay to receive their salaries and purchase daily supplies on ships, crew members can go cashless on board and send money to their home countries and withdraw cash from ATMs anywhere in the world.

 

Watch MarCoPay service video here: https://www.youtube.com/watch?v=psG3RS2tZ_4

Read More: https://www.nyk.com/english/news/2019/20190725_01.html

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