NYK Line crews have performed the first digital currency transfers on board vessels.
The Japanese shipowner said that the secure transactions were carried out using the MarCoPay platform.
The platform is operated by NYK Line and the Philippines company Transnational Diversified Group (TDG).
Seafarers on a number of ships were able to buy daily necessities without cash. Crews on third-party vessels have also made payments.
The system had been scheduled to launch in January 2020, with the help of Accenture and Citi.
Handling costs to be cut
Last year, the shipowner estimated that total cash on company ships around the world amounts to about $800m a year, and costs related to handling are very high.
NYK and TDG are continuing to prepare for a full launch, which will include the transmission of funds overseas to family members.
"While foreign seafarers generally earn more than the average population in their home countries, they’re often not fully recognised and valued socially and economically," the company has previously said.
"MarCoPay aims to contribute to an environment in which they can obtain further favourable conditions for bank loans and insurance coverage with this new electronic money platform."
Last year, Tsakos Columbia Management phased out cash payments to crew by masters.
ShipMoney rolled out an electronic payment solution on 90 ships, including tankers, boxships and bulkers, following a trial.
NYK partner TDG comprises more than forty companies, primarily in logistics and shipmanagement. It is based in Manila.
