Founded in 2013 by Stuart Ostrow, a Florida-based CPA and entrepreneur, ShipMoney set out to challenge the archaic way seafarers were paid and to update the cash-based infrastructure that most cruise and commercial ships relied on for decades.
“On behalf of our entire team, we would like to personally thank all of our clients, vendors, partners and most importantly the crew members who we have worked very hard to serve every single day over the past 10 years and whom we will continue to support in the future,” said Mr. Ostrow.
“This has been such a remarkable journey from developing and implementing the first successful crew payroll card program for the cruise industry many years ago to developing our own proprietary digital maritime payments platform with annualized payroll funding exceeding $1 billion annually.”
“Strong financial partnerships are the foundation on which ShipMoney built the world’s most trusted maritime payments platform in the industry. Clients entrust us with billions of dollars of funds for their crew and the single most important factor to consider is the safety and security of these funds. ShipMoney’s funding structure offers the highest-level of protection and continuity in the industry by offering fully insured FDIC client accounts within the United States,” added Mr. Ostrow.
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