German shipping company NSB Group has chosen the Kadmos payment platform to digitalize and automate salary payments for its seafarers. NSB will begin rolling out this new payment system in the coming months. With the onboarding of NSB, Kadmos continues to expand the number of shipping companies that have chosen its payment platform. This announcement also comes a month after a €29 million Series A funding round by the Berlin-based Fintech. As Kadmos co-founder Justus Schmueser explains, “Having an important shipping company like NSB Group as a customer shows that our payment platform is the future of salary payments in the industry and further demonstrates that our solution provides real benefits to shipping companies and seafarers alike.”

The Kadmos payment platform brings more transparency and efficiency to crew salary payouts by streamlining and digitalizing the entire payment process. As a leader in financial technology for the shipping industry, Kadmos’ engineering and product teams have developed an end-to-end salary payment platform that improves the efficiency of NSB payment operations and transfers. This not only helps NSB reduce administrative costs and eliminate cash-to-master payments, but also allows them to transfer salary payments instantly to their crews.

“Kadmos’ payment platform marks another step forward on our roadmap of implementing innovative solutions. One of the benefits of Kadmos is the ease of a complex process for our colleagues on board and on shore by intuitive usability. Enhancing our services towards our clients, and also to our seafarers is very important to us. Kadmos meets our expectations of safeness and simplicity. That is why we use it”, says Tim Ponath, Chief Executive Officer (CEO) of NSB.

NSB’s adoption of the Kadmos platform constitutes an important step toward greater digitalization of its operations. As Thomas Kriwat, Global Key Account Director Marine at Kadmos, adds, “NSB constantly positions itself as a leader of technical innovation in the shipping industry and we are thrilled to be helping them pay their seafarers more securely and efficiently.”

Kadmos’ payment platform represents an important step taken by NSB in giving their seafarers more advanced tools for managing their finances. With the Kadmos app, seafarers will receive their salary payments instantly while being able to keep it in an EU-based e-wallet. In addition to helping better secure and manage salary payments, the Kadmos app enables seafarers to send money home quicker and more cost effectively with market-leading FX rates.

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About the NSB GROUP

NSB GROUP is a maritime service company with headquarters in Buxtehude and locations in Singapore, in the Philippines, Korea, and China. Its history goes back to 1982. In addition to traditional technical management, the services offered by the ship management company include commercial management, crew management and training, insurance services, engineering, and newbuilding. In total, NSB manages a fleet of over 70 ships. NSB GROUP employs around 150 people on land and 1,700 at sea worldwide.

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About Kadmos

Kadmos is a Berlin-based Fintech on a mission to revolutionize the way that seafarers are paid. In an industry dominated by opaque mark-ups, kickbacks, and literal bags of cash, we want to reduce administration and accounting costs associated with paying your crew. At the same time, we are committed to providing more control over finances through a free e-wallet that enables money transfers with marketing-leading FX rates as well as a global debit card. Read more about Kadmos, our team, and our founding story.

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