NYK Acquires Kadmos to Expand Digital Pay for Seafarers

Japanese shipping giant Nippon Yusen Kaisha (NYK) is set to acquire Kadmos, a global digital platform specializing in maritime salary payments. Kadmos, which was launched in Germany in 2021, offers an end-to-end solution for paying seafarers worldwide.

NYK entered the financial services space in 2019 with the launch of MarCoPay, a Manila-based platform. Initially focused on financial inclusion, MarCoPay now offers a range of services, including loans and insurance, tailored to support Filipino seafarers and their families.

The platform caters to shipowners and ship management firms employing Filipino crew members and has established itself as the only digital wage platform for Filipino seafarers holding an electronic money issuer license from the Bangko Sentral ng Pilipinas, the central bank of the Philippines.

Through the acquisition of Kadmos, NYK gains access to a broader, multinational user base, allowing it to expand its reach beyond the Filipino market. The company plans to bring the two platforms together, aiming to strengthen its digital payroll services and support seafarers of all nationalities through a more unified and efficient system.