NYK Acquires Kadmos, an Innovative End-to-end Salary Payments Platform for Seafarers
Nippon Yusen Kabushiki Kaisha (NYK) has reached an agreement to acquire 100% of Kadmos Holding GmbH (Kadmos), a global end-to-end maritime salary payments platform provider headquartered in Germany.
Founded in 2021 and based in Berlin and London, Kadmos is a rapidly growing technology company that provides innovative salary payment solutions to shipowners, ship-management companies, and their global workforce of seafarers.
In 2019, NYK established MarCoPay in Manila, Philippines, as a financial services platform. MarCoPay has since evolved to offer loans and insurance designed to support the well-being of Filipino seafarers and their families. It services shipowners and ship-management companies employing Filipino seafarers, and has solidified its market position as the only digital-salary payments provider for Filipino seafarers with an electronic money issuer license from Bangko Sentral ng Pilipinas, the central bank of the Philippines.
The acquisition of Kadmos enables NYK to integrate a platform that supports seafarers of all nationalities into its digital payments business portfolio. Together, Kadmos and MarCoPay will uniquely provide comprehensive salary payment solutions to seafarers worldwide while also addressing the unique needs of the Filipino seafarer community.
NYK aims to further enhance collaboration between the two entities by unifying their platforms to create the world’s leading digital-salary payments provider for seafarers of all nationalities. Additionally, NYK will play a pivotal role in driving market-wide adoption of the joint products and advancing the overall well-being of the maritime industry’s essential workforce.
Norbert Gehrke
