NYK's Digital Payment Platform Makes Maiden Voyage
June 01, 2020

The new mobile app "MarCoPay" for Japanese shipping company NYK helps seafarers make purchases and pay bills while aboard.

Challenge

Seafarers stop at several trade ports en route to a ship’s final destination, and one working period onboard takes at least several months. Given their lengthy time at sea, crew members often need to remit salary to their families. Salary payments and the settlement of daily supply purchases, like food or toiletries, on board are often conducted in cash. Carrying a large amount of cash on board, however, presents difficulties, including ensuring sufficient security.

Nippon Yusen Kabushiki Kaisha (NYK) is renowned as a major world-class shipping company in Japan. The company’s corporate philosophy aims to "Bringing value to life" to enrich its customers’ and employees’ experiences. It wanted to make life easier for its employees and their families, especially those who are not Japanese.

What Accenture Did

As part of NYK’s broader digitalization efforts, the company joined forces with Philippines-based Transnational Diversified Group (TDG)*1 to establish electronic money platform MarCoPay*2.

Accenture were brought on board to set up the platform, designed mainly to allow non-Japanese seafarers to make digital settlements, international remittances and cash withdrawals using QR codes on a smartphone app. By using MarCoPay to receive salaries and purchase daily supplies on ships, seafarers can go cashless on board, send money to their home countries and withdraw cash from ATMs anywhere in the world through Citigroup.

To develop and deliver the electronic money platform and ensure its robust security, we drew on our deep digital and financial technology knowledge and leading industry experience. Plus, we successfully shortened the development period by providing advanced technologies, enabling several services and networks to work together on one platform.

TDG is a Philippines-based business group that is comprised of over forty companies, primarily engaging in logistics, ship management & manpower, travel & tourism, information and communications technology, and other investments in industries such as renewable energy, agriculture and real estate.

  1. Transnational Diversified Group (TDG)
  2. The name MarCoPay comes from Maritime Community.

Accenture set up the platform, which allows non-Japanese seafarers to make digital settlements, international remittances and cash withdrawals using QR codes on a smartphone app.

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

To develop and deliver the electronic money platform and ensure its robust security, we drew on our deep digital and financial technology knowledge and leading industry experience.

Plus, we successfully shortened the development period by providing advanced technologies, enabling several services and networks to work together on one platform.

 

Read More: https://www.accenture.com/us-en/case-studies/freight-logistics/nyk

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