Puerto Rico-based First Finance International Bank Inc. has teamed up with the Australia-based Seafarer Foundation to develop a reloadable multi-currency card that provides digital payroll and card services to workers in the maritime industry. 

Under the program, First Finance, the first digital-only bank based in Puerto Rico, loads payroll from the shipping company through an open and closed-loop system that allows workers to access their funds at any ATM or POS terminal around the world in local currency and no currency exchange markup from banks. 

"This partnership is the result of two years of dedicated efforts by FFIBI and its team," Michel Poignant, CEO of FFIBI, said in a joint release. "The strategic positioning and regulatory environment of a neobank located in Puerto Rico allowed FFIBI to provide such service to seafarers and thousands of shipping crew members they serve worldwide."

Seafarers can also send funds to family members through a linked card or pay bills at any one of 600,000 locations around the world. 

 


 

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