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, inexpensive alternative to cash onboard. The program offers a perfect strategic solution for our payroll and cash-to-master modules.”
ShipMoney for Crew is a prepaid Visa payroll card that provides an alternative to receiving wages in cash or wires home. Crew can use their ShipMoney Visa cards worldwide at ATMs, online purchases, stores, restaurants as well as to send money home to friends or family.
ShipMoney for Captains is a prepaid Visa purchasing card that provides an alternative way to pay for provisions, emergency repairs and other ship expenses. Cards can be loaded (and unloaded) 24/7/365 with real-time and customized reporting. ShipMoney for Captains provides treasury management with a flexible tool for funding ship operations at a significantly reduced cost.
“The response and interest from SBNT’s clients has been tremendous. ShipMoney provides significant treasury flexibility regarding onboard cash and reduces the cost of sending funds to the vessels. An important factor in today’s difficult market,” noted Stuart Ostrow, President of Maritime Payment Solutions.