Traditional financial systems have struggled to meet their needs. As it stands, payments can take weeks to arrive, and employers and employees often encounter a multitude of additional fees and costs when transferring money. And while life at sea has much to recommend it – good pay, job satisfaction, the ability to travel the world – this payments complexity has been a major disincentive in an industry where labour is already tight.

Seafaring will often involve long periods away from home. Seafarers need to find ways to get money back home to pay rent and energy bills, and support their families while they’re travelling. They have no access to conventional banking options during their long stretches at sea, and when other transfer methods prove too slow, or seafarers want to spend on the go, employers are often forced to use cash for salaries.

Kadmos is a platform that specialises in powering secure payments to seafarers across the globe. For the reasons outlined above – the company recognised that it needed to develop a secure salary payments platform and chose Rapyd to support their global expansion.

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