Prepaid Solutions Signs Contracts for its Maritime Payroll Product, OceanPay
Multi-Year Agreements Have Combined Estimated Annual Card Load of $80 Million
ORLANDO, March 8, 2011 – Prepaid Solutions, Inc. (PPS), a payments company offering comprehensive prepaid solutions for corporations and consumers, announced at the Prepaid Expo 2011 that it has signed contracts for its maritime payroll product OceanPay® with International Cruise Management Agency (ICMA), Apollo Ship Chandlers, Inc. and The Image Group.
ICMA is the staffing agency for Crystal Cruises, while The Image Group is a photo concessionaire for multiple cruise lines. Apollo Ship Chandlers provides goods and services to Hotel, Food and Beverage concessionaires throughout the world. Among them are the concessionaires for Oceania and Regent Cruise Lines. Combined, these program agreements encompass more than a dozen ships, more than 6,000 crew members and an estimated $80 million in annual card load. The OceanPay program is now offered to crew members on more than 200 ships worldwide.
“OceanPay enables a coordination of services for cardholders that benefit cruise lines and crew members alike through improved security and flexibility, as well as savings in time and money,” said Kenneth M. Goins, Jr., CEO of PPS.
OceanPay is a proprietary, comprehensive payroll solution designed to mitigate the unique challenges and concerns of existing payroll processes faced by the maritime industry. The fully turn key solution provides currency exchange and money transfer services, companion cards, on---board card printing and encoding and free Internet connectivity.
Some of the unique payroll challenges of the maritime industry include compliance with legal requirements established by the Merchant Marine Act of 1920 (Jones Act), which regulates maritime commerce in U.S. waters, as well as the Merchant Marine Act of 1915 (Seaman’s Act), which provides legal protections for workers at sea.
PPS provides the maritime payroll solution with the help of its long---term and exclusive business partners, Travelex and MTN Satellite Communications (MTN). PPS has integrated into the prepaid product offering the currency conversion and international payment expertise capabilities of Travelex, while MTN provides global communications with the ships. Travelex and PPS share sales, marketing and program management responsibilities, while PPS performs implementation and support efforts.
“Our strategy is to build effective, easy to use, reliable solutions for consumers in niche markets seeking cost--- effective payment methods and superior customer service,” said Goins.
“OceanPay creates an excellent value proposition for both maritime employers and employees, and is a truly global, integrated solution for solving maritime payroll complexities.” OceanPay was just named the 2011 Paybefore Awards “Best in Category” winner in the category of Most Effective Prepaid Solution. If you are attending the Prepaid Expo, please visit booth #829 to meet the team.
About Prepaid Solutions, Inc.
Prepaid Solutions (PPS) is a payments company offering comprehensive prepaid solutions for corporations and consumers. Our core mission is to provide innovative solutions to niche markets seeking cost---effective payment methods and superior customer service. The company provides marketing, design, distribution, and fulfillment services in support of payroll, general purpose reloadable, loyalty, award and promotional programs. The company’s consumer---based products are available for purchase in over a thousand retail stores and are reloadable via multiple retail networks nationwide. PPS has locations in Atlanta, Chicago, Milwaukee and Miami. Visit www.PrepaidSolutions.com to learn more.