XTransfer, China’s B2B cross-border trade payment platform, and BNP Paribas have signed a MoU to collaborate on cross-border financial services.
The agreement was formalised during the Money20/20 Europe event in Amsterdam and aims to reduce the cost and processing time of international payments, particularly for businesses operating between China and the Eurozone.
The partnership will enable Chinese clients of XTransfer to collect payments in Euros more efficiently by making use of BNP Paribas’ network across Europe.
At the same time, European SMEs will be able to make direct payments in Euros to Chinese businesses, simplifying currency exchange and improving operational efficiency.
The companies also plan to expand the service to include additional currencies in the future.
“It is a great honour to join hands with BNP Paribas,”
said Bill Deng, XTransfer Founder and CEO.
“This MOU reflects our mutual ambition to empower SMEs with enhanced cross-border financial solutions. As we continue to grow our European footprint, partnerships like this are instrumental in building robust, compliant, and innovative financial infrastructure for international trade.”
Bruno Mellado, Global Head of Payments and Receivables at BNP Paribas, added,
“By combining BNP Paribas’ extensive European network with XTransfer’s expertise in B2B cross-border trade payments, we aim to simplify international trade transactions, reduce costs, and enhance the global competitiveness of our clients.”
The partnership is expected to support SMEs in both regions by addressing the practical challenges of cross-border payments, easing transaction processes, and lowering costs for international trade.
Featured image credit: XTransfer
