Today In Payments Around The World: CaixaBank, Bankia Merger Could Make Biggest FI In Spain; Gojek Redoubles Efforts In Thailand With New App
In today’s top payments news around the world, CaixaBank and Bankia said they are combining in a deal that would make it the biggest financial institution in the country if approved, and Gojek is doubling down in Thailand with a new app. Plus, Western Union is collaborating with Isabel Group to provide payments in Belgium.
Bankia and CaixaBank recently said that they are combining in an arrangement that, if given the green light by shareholders and regulators, would make the biggest financial institution in the country. The entity formed by the combination would maintain the name of CaixaBank and be bigger than the nation’s current biggest bank, Santander. CaixaBank is based in Valencia, while Bankia is based in Madrid.
Gojek, which began as a call center for seeking motorcycle taxis a decade ago, is redoubling its efforts in Thailand. The firm has launched a new, revamped mobile program for the country, which is taking the place of its past country-specific app. Grab entered Southeast Asia two calendar years ago when it purchased operations from Uber, with Gojek entering the market a year after.
The business arm of Western Union will work with Isabel Group via the Isabel 6 B2B network to expand connectivity in Belgium. As it stands, the Isabel 6 platform serves 70,000 professional customers. The expansion and collaboration with Western Union Business Solutions will assist in it reaching the international payments network of Western Union that covers 200 nations and territories in more than 130 currencies globally.
Worldwide trade has proved to be remarkably resistant even though most industries have suffered from COVID-19. The sector is reportedly making a more formidable rebound than following the 2008 financial crisis. Even though trade is still under pre-COVID-19 levels, it recouped approximately 50 percent of this year’s historic loss by June per the Kiel Institute for the World Economy.