East West Bank in the US has entered into a new partnership deal with Worldpay. Through the long-term agreement, Worldpay will now provide the $78 billion-asset bank’s business and commercial clients with access to point of sale, smart terminals, omnichannel, e-commerce and loyalty solutions.
According to a joint statement, this provision seeks to “enable commerce in-store, online and everywhere in between”. Alongside in-store and online payment solutions that “streamline operations and enhance cash flow”, East West Bank will also refer customers to Worldpay for value-added services.
Headquartered in Pasadena, East West Bank is the largest independent bank in Southern California, with business and commercial banking services spanning checking and savings accounts, commercial lending, SBA loans, real estate financing, treasury management, international trade finance, and digital banking platforms.
The Nasdaq-listed financial institution was founded in 1973 and is particularly focused on serving customers with both domestic US operations and international expansion needs, specifically those seeking to establish or expand operations in Asian markets.
This international focus is noted through East West Bank’s existing Banking-as-a-Service partnership with BayaniPay, through which it provides digital checking accounts to customers of the Los Angeles-based fintech to send remittances between California and the Philippines.
East West Bank’s latest industry partnership comes as Worldpay prepares to be acquired by Global Payments. The purchase agreement was signed with GTCR and FIS for $24.25 billion in April and is expected to close in H1 next year.
Source: https://www.fintechfutures.com/
