MarCoPay, a financial services app, is gaining popularity among Filipino sailors as a practical way to receive payments. It also offers a growing range of financial services at sea, garnering global attention.
Sailors have typically received payment in cash. However, this arrangement is difficult since, aside from generally brief shore vacations, mariners may be confined to the same vessel for several months to a year.
Through a smartphone app, MarCoPay provides a platform that offers various financial services to Filipino sailors, including e-money wage payments, money transfer services, and loan applications.
An increasing number of Filipino ship crew members are also using the platform to apply for mortgages and loans for cars and homes.
By launching an exclusive travel product on the MarCoPay app, Japan Airlines and MarCoPay Inc., a Philippines-based subsidiary of the NYK Group, hope to improve the welfare of Filipino seafarers and their families and contribute to regional revitalization by generating new demand for travel to Japan.
The new product goes on sale on December 23, 2022.
With more than 200,000 Filipinos working as seafarers worldwide today, the Philippines is the world's greatest producer of seafarers, playing a significant role in the global shipping sector and the world's economy. For example, Filipinos make up more than 70% of the crews aboard Japanese ships alone.
Recognizing the significant contributions made by Filipino seafarers, MarCoPay Inc. wants to create new economic opportunities that will enhance seafarers' quality of life and enable them to achieve financial freedom at every stage of their lives.
The MarCoPay app provides eMoney services, foreign exchange, loans for competitive seafarer wages, loans for real estate and automobiles, insurance, and more.
Japan Airlines intends to promote economic and logistical flows by making foodstuffs and goods from various regions of Japan available and disseminating information on local tourism to support regional rejuvenation.
This is also consistent with Japan Airlines' newest initiative, the "JAL Furusato Project," which aims to promote traditional Japanese culture through food, goods, and foreign tourists in historically significant neighborhoods of major Japanese cities.
The three businesses will now provide "Travel product" services that will let customers utilize JAL's extensive domestic and international network.
These services will include access to a special website linked to MarCoPay's home page, making it simple to book and buy tickets, and an increased complimentary baggage allowance.
By promoting this project, Japan Airlines, NYK, and MarCoPay hope to enhance the welfare of Filipino seafarers and their families while bringing more tourists to various regions of Japan and reviving the local economy.
Due to security concerns, the MarCoPay app can only be downloaded to one device.