Sepaga E.M.I. has announced a new partnership with Cellock Ltd and the launch of the 7 Seas E-Wallet, a mobile banking solution designed specifically for the shipping industry.

The announcement marks a significant step in addressing common transactional challenges faced by shipping companies, seafarers and suppliers.

The 7 Seas E-Wallet has been developed to enable faster, easier and more secure seamless mass payments, a pressing need within the maritime sector.

As a licensed Electronic Money Institution, Sepaga will serve as the partner behind the platform and will provide the infrastructure for opening electronic accounts or e-wallets, executing payments including international money transfers, managing currency exchange and performing KYC and AML procedures through automated checks.

The strategic partnership will allow Sepaga to expand its services to a new market with substantial transaction volume, multi-currency flows and a diverse international client base.

Through the 7 Seas E-Wallet platform, Sepaga is also entering the digitalisation of the traditionally analogue maritime industry, opening new opportunities for further development.

The e-wallet is designed to tackle long-standing issues such as delayed payments and bonuses to seafarers, the complexity of handling cash on board and regulatory challenges surrounding international transactions.

“At Sepaga, our mission is to deliver smart, secure financial solutions tailored to our clients’ unique needs. The 7 Seas E-Wallet by Cellock is a game-changer for the shipping industry, bringing modern financial infrastructure to a sector that has long been underserved due to its global and mobile nature,” said Elena Kontou, CEO of Sepaga E.M.I.

“We’re proud to support a solution that empowers seafarers, streamlines operations, and overcomes geographic limitations. As the industry evolves, so do we – continuously innovating to make financial solutions simpler, faster, and more accessible for our clients and partners,” she added.

On his part, Dr Haris Zacharatos, CEO of Cellock, said “we are thrilled to join forces with Sepaga, one of the most respected Electronic Money Institutions, to bring our shared vision to life. At Cellock, we’ve always pushed boundaries in fintech innovation, combining cutting-edge technology with deep-rooted expertise in the maritime domain”.

“The launch of the 7 Seas E-Wallet is more than just a product – it’s a milestone in empowering seafarers and streamlining financial operations across the shipping industry,” he continued. “This partnership sets the stage for a new era of financial inclusion and operational excellence at sea.”

Sepaga, headquartered in Nicosia, has been a fully licensed Electronic Money Institution by the Central Bank of Cyprus since 2016.

The company provides international businesses with secure and efficient global payment and receipt solutions, supported by advanced technology and expert teams worldwide.

By leveraging strong banking and payment network partnerships, Sepaga’s services aim to optimise cash flow, reduce working capital cycles and streamline payment processes, while offering round-the-clock control and enhanced security.

Cellock is a technology company with over two decades of experience in the fintech and defence-tech sectors.

The company specialises in advanced software and hardware solutions for secure financial transactions, embedded AI systems and dual-use technologies.

Cellock has built a strong presence in the maritime sector with user-centric platforms that are scalable, compliant and designed for mission-critical environments.

The company’s solutions, which range from digital wallets to embedded situational awareness tools, are built to operate seamlessly across the most demanding operational settings.