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Stuart Ostrow News

10 Oct 2022

V.Group Inks Crew Payment Deal with ShipMoney

Founder and President of ShipMoney, Stuart Ostrow (Photo: ShipMoney)

ShipMoney announced a new long-term strategic partnership with ship management compnay V. Group to digitalize its seafarers’ payroll system. The deal also enables V. Group to make international corporate remittances, network payments, money transfers and all other forms of shoreside and onboard payments.Companies using ShipMoney’s Account Management System can pay crew members instantly with a single file upload or from their own crewing/payroll system via an API integration.

17 Feb 2021

Thome Group Introduces Digital Payment Solutions for Crew Wages

© Kamchai / Adobe Stock

All Thome Group seafarers will now have access to a wide range of digital payment solutions, including crew payroll payments, international remittances, money transfers, mobile tops-ups, payroll advances and onboard expenses.Maritime Payment Solutions, LLC (d/b/a ShipMoney), a global provider of payment solutions for maritime companies, said Wednesday it will be facilitating Thome Group’s crew payments.Thome Group provides integrated maritime services to the international shipping and offshore industries, with a global crew pool of around 12,000 seafarers.

22 Dec 2020

Company in Focus: ShipMoney Helps to Enable Efficient Seafarer Pay

Stuart Ostrow, ShipMoney

Stuart Ostrow developed ShipMoney as a means to make the process of paying crew more efficient and cost-effective for both vessel owner/operators and the crew. Little did he realize then that his company would be instrumental in helping seafarers during their greatest time of crisis.Stuart, to start, how did you come create ShipMoney and get into a career in the maritime business?I'm the definition of an accidental salesman. By professional training, I'm a Big Six CPA, and I was always one of those frustrated accountants. Many years ago, I read a business plan that talked about prepaid.

01 Dec 2020

ShipMoney Continues to Grow, Announces New Hires

Maritime Payment Solutions, LLC (d/b/a ShipMoney), a provider of payment solutions for maritime companies, announced two new hires. Vanessa Torres has joined as Strategic Client and Business Development Manager in Manila, and Theo Tsokos is the Client Account Manager in Athens.Torres will be responsible for managing clients in the Philippines and Southeast Asia, including Maersk and V. Ships, among others. With more than 20 years of professional experience, she will act as liaison between ShipMoney and regional client offices.Tsokos will be responsible for managing clients in Greece and Cyprus, including Scorpio and Tsakos-Columbia.“We are very pleased to welcome Vanessa and Theo…

19 May 2020

ShipMoney Digital Payment Solutions for Cash-to-Master Virtual Payments for Seafarers

© zapp2photo

As the health and welfare of seafarers continues to be a point of focus around the world, Maritime Payment Solutions, LLC (d/b/a ShipMoney), a provider of payment solutions for maritime companies, introduced ShipMoney Virtual Cards and the Transfer Marketplace, a pair of services designed to expedite payments to crew members and their families while providing a broad range of remittance options.ShipMoney’s Virtual Card solution uses Visa’s virtual card technology, which enables crew members to immediately access their wages from anywhere in the world while onboard or at home…

20 Nov 2019

ShipMoney, ISWAN Partner for 'ShipMoney Cares'

Stuart Ostrow, President, ShipMoney

ShipMoney, an international maritime payment solution provider, launched a new initiative: ShipMoney Cares. “As a company, it’s very important that we give back to the community that supports us," said Stuart Ostrow, President, ShipMoney. "Together with ISWAN, we will be able to make a real difference in the lives of seafarers who need a helping hand.”The initiative will officially launch on November 18th at the Crew Connect conference in Manila and will be available to seafarers and their families -- including parents…

28 Jun 2019

Debra Searle to Speak at Shipping Week.

ShipMoney announced that Debra Searle has been engaged as its keynote speaker at London International Shipping Week as part of promoting the theme “Empowering Women in the Maritime Community”.As the youngest woman to row SOLO across the Atlantic Ocean, Debra has an amazing story to tell of 30 foot waves, killer sharks and very near misses with cargo ships. As if that was not enough, she had to contend with the debilitating loneliness of knowing that her support ship was often two weeks away if she got into trouble.Taking part in the Atlantic Rowing Challenge (a two person row across the Atlantic in a self-built boat), in partnership…

10 May 2019

ShipMoney Crew Payment Solutions for Tsakos

Seafarers employed on Tsakos-owned vessels operated under its management arrangement with Columbia Shipmanagement will now be paid electronically as opposed to by ‘Cash-by-Master’, under an agreement signed with ShipMoney.The deal means crew members will have control and access to their wages while onboard ship, including the timing and currency of remittances sent home. It will  reduce the need for large amounts of cash to be delivered to ships and eliminate the need for Tsakos to administer individual crew wire payments sent to home bank accounts. The latest contract with the Greece-based shipmanagement company will see ShipMoney’s products being rolled out to its fleet of 90 vessels consisting of tanker…

07 Feb 2014

ShipMoney Signs Marketing Agreement with SBNTEX

The Program Manager of the Visa ShipMoney Program announced that it has signed a multiyear Marketing and Business Development Agreement with SBNTEX, a wholly owned subsidiary of SBN Technologics. Under terms of the multiyear Agreement, SBNT will market and promote the ShipMoney Program to its customers and prospects throughout the world for the commercial maritime industry independently or as an integral component of SBNT’s payroll CTM module (PRC). S.B. Nair of SBNT stated, “Visa ShipMoney is a fantastic new benefit program for captains and crew that provides a safe…