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Startups

Philippines startup MarCoPay gives sailors financial freedom at sea

App has grown from wage payment into wider financial services including lending

Fintech startup MarCoPay operates a platform that provides a range of financial services for Philippine sailors through a smartphone app. (Screenshot from NYK group Youtube site)

MANILA -- Financial services app MarCoPay is winning over Filipino sailors as a convenient means to receive salaries and a widening array of financial services on the sea, and attracting international attention as a result.

Traditionally, sailors have been paid in cash. This is cumbersome because seafarers can be confined to the same vessel for several months to as long as a year except for usually brief shore leaves.

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