• Kadmos introduces KadPos, the digital point-of-sales solution for the maritime industry.
• KadPos revolutionizes onboard expense settlements, enabling seamless and secure transactions for seafarers and shipping companies.
• KadPos offers enhanced security, simplified analysis, and cost-free transactions, empowering the maritime industry for the future.

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Kadmos, the end-to-end salary payments platform for cross-border employees, is thrilled to unveil its latest innovation, KadPos, the digital point-of-sales solution tailored to meet the unique needs of partners and users.

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Simplifying Onboard Expense Settlements

‍KadPos introduces a game-changing approach to handling onboard expenses, streamlining payments through the Kadmos e-wallet, which delivers a seamless and efficient payment experience with advanced capabilities.

The Challenge: A Cash-Based Conundrum

‍When working at sea, seafarers are not required to make on-the-spot payments for each onboard purchase. This holds true especially on cruise ships or ferries, where a predefined spending threshold exists before settling the accumulated expenses. Once this threshold is reached, seafarers are responsible for personally settling their bill with a designated vessel representative, a process frequently entailing cash transactions. This approach places a burden on seafarers, compelling them to manage significant amounts of cash while simultaneously exposing vessel representatives to potential hazards associated with receiving, safeguarding, and ultimately depositing these funds.

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‍The KadPos Solution

‍Kadmos addresses these challenges by introducing KadPos, enabling seafarers to settle their bills conveniently and securely while providing shipping companies with a streamlined means to charge seafarers for their onboard purchases.

The process is straightforward: Kadmos equips shipping companies with a company e-wallet accessible via the Kadmos Company Portal. Their operators can view internal accounting data, check each seafarer's outstanding amount, and create a payment request. Seafarers can then scan the generated QR code, representing the requested amount and currency, with their Kadmos Mobile App to complete the payment instantly on-site. For added convenience, seafarers can also settle payments remotely from anywhere using their Kadmos user tag.

‍Designed to cater to diverse use cases on cruises or ferries, KadPos covers everything from bonded stores and in-store purchasing to settling expenses after offboarding. Crew members can access various supplies and essentials from the slop chest, and take advantage of duty-free goods at bonded stores without worrying about expense settlements.

Some Key Features:‍

• Mass Pay Request Creation: KadPos caters to the needs of small and large crews alike, allowing hassle-free payment requests for any number of seafarers on board.
  
• Instant and Effortless Transactions: Utilizing QR codes or their Kadmos user tags, seafarers experience quick and frictionless payment experiences on-site and remotely, saving valuable time during their busy schedules.‍
• Enhanced Security: KadPos ensures utmost security for all transactions, safeguarding the financial interests of both users and operators and instilling confidence in all monetary interactions.
• ‍Simplified Analysis and Reconciliation: All transactions are promptly digitized with KadPos, allowing easy downloading for external analysis, and streamlining the reconciliation process for both users and operators. The efficiency enhancement eliminates the need for paper receipts and endless email exchanges, ensuring a hassle-free experience.
  
• Cost-Free Transactions: KadPos is entirely free of charge, providing a cost-effective solution for both companies and crew members. With a maximum transaction amount set at 1,000 USD/EUR/GBP, users can make payments without incurring any costs.

KadPos marks a significant milestone in Kadmos' mission to streamline financial transactions for maritime professionals, providing convenience and security in one revolutionary package.

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Commenting on the launch of KadPos, Justus Schmueser, co-founder at Kadmos, said, "At Kadmos, we constantly strive to redefine the boundaries of financial technology in the maritime sector. The introduction of KadPos is a testament to our commitment to enhancing the payment experience for our partners and end-users. By enabling digital and secure transactions onboard, we aim to empower companies and seafarers with the tools they need to focus on what matters most – their work and well-being."

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Availability‍

KadPos is now available for partners and end-users, contributing to Kadmos' comprehensive ecosystem that caters to the unique needs of cross-border employees in the maritime industry.
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‍About Kadmos‍

‍Kadmos is a Berlin-based Fintech on a mission to revolutionize the way that seafarers are paid. In an industry dominated by opaque mark-ups, kickbacks, and literal bags of cash, Kadmos wants to reduce administration and accounting costs associated with paying crews. At the same time, it's committed to providing more control over finances through a free e-wallet that enables money transfers with marketing-leading FX rates and a global debit card. Read more about Kadmos, the team, and founding story.