October 30, 2023
TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto) today announced that it has decided to introduce MarTrust, a payment service specialized for ocean shipping, for all seafarers onboard vessels managed by MOL Group ship management companies, aiming to improve seafarers' quality of life by providing a portion of payroll through electronic payment services on mobile applications. MOL plans to make MarTrust available to all eligible seafarers by fiscal 2024.
MarTrust is an international payroll remittance service for seafarers, developed by the Marcura Group (headquartered in Dubai, UAE), a digital transformation (DX) solution provider focusing on the ocean shipping industry. With the introduction of MarTrust, seafarers will be given an e-wallet account and an international branded accompanying debit card, allowing them to transfer to bank accounts and between e-wallets through a mobile application. It also supports cash withdrawals from ATMs almost anywhere in the world, so that payments received electronically can be converted to cash.
Seafarers' salaries are required by international convention to be paid into a bank account, but a portion of their salary is received onboard the vessel, and this portion has been paid in cash. With the introduction of MarTrust, the following changes and benefits are available as a result of the electronic receipt of onboard payment and the provision of an international branded accompanying debit card.
<Changes and benefits with introduction of MarTrust>
From April to July 2023, MOL conducted trials of MarTrust on its group company-managed vessels, and the decision to fully introduce the service was based on the many comments from seafarers who participated in the trials on the need for the service, as well as its benefits.
MOL is committed to improving convenience and engagement for seafarers, increasing the operational efficiency of ship management companies, and pursuing DX on board.
MOL Group 5 Sustainability Issues
MOL Group identifies "Sustainability Issues" (Materiality) as our key issues for sustainable growth with society through realization of the Group Vision.
We anticipate this initiative to contribute especially to the realization of "Human & Community -Contributing to the growth and development of people and communities-" and "Innovation -Innovation for development in marine technology-".