Consorteum Holdings, Inc. announced this morning that the company has signed a management agreement with UK based Blue Sea Manning Ltd. As terms of the contract, Consorteum will provide integrated payroll and multi-currency settlement solutions to Blue Sea Manning.
Blue Sea Manning receives wire transfers for invoice payments in numerous foreign currencies from all over the world. Consorteum’s custom tailored solution will manage all incoming global payment tenders, currency conversion functionality and administrative tools for payroll settlement to staff members in their preferred currency; directly into a bank account or onto a payroll card.
Quent Rickerby, President & COO of Consorteum Holdings Inc., stated, “Consorteum is pleased to be working with Blue Sea Manning and will work closely with their management to provide payment, settlement and payroll solutions for further capitalization of the global $27 billion dollar cruise ship and multi-billion dollar private yachting industry. Both companies will continue to work together to seek out new opportunities within the underserved and challenging shipping industry.”
Blue Sea Manning provides first class officers and crews for yachts, cruise ships and offshore vessels. With ship owners and staff placed across the globe, Blue Sea Manning required a streamlined way of accepting payments in multiple currencies from ship owners, converting the funds, and paying their officers and crew in the local currency of choice, without the cost of expensive wire transfers.
Patrik Dahlgren, CEO of Blue Sea Manning Ltd., commented, “Consorteum’s approach to payment and settlement solutions are unmatched by anyone. We have been trying for years to source a cost-effective and efficient method of managing worldwide payments, but traditional banks were unable to provide a flexible alternative to fit our needs. We will now have the flexibility of being able to adapt to the individual requirements of the Mega Yachts and Cruise-ships.”
Rickerby concluded, “This agreement further demonstrates our ability to quickly deploy and expand our services and client base into new overseas markets.”
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