Japanese shipowning giant NYK has formed a new joint venture to introduce an app that will do away with cash for seafarers.
It has teamed up with Philippines-based Transnational Diversified Group (TDG) to launch electronic money platform MarCoPay, based in Manila and owned on a 50/50 basis.
The "highly-secure platform" aims to enhance the lives of seafarers and their families, NYK said.
