BNP Paribas and Ant Int'l Partner For Cross-Border Payment Solutions

CIOTechOutlook Team | Monday, 15 July 2024, 07:01 IST

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During the signing of a Memorandum of Understanding (MoU) in Zurich, Douglas Feagin, President of Ant International, and Pierre Fersztand, Global Head of Cash Management, Payments, Trade Solutions & Factoring at BNP Paribas, agreed to collaborate on various initiatives that will involve close partnership between BNP Paribas and Ant International's digital payment and innovative ventures.
 
BNP Paribas is partnering with Alipay+ from Ant International to allow European merchants using BNP Paribas' acquiring service to accept payments from over 25 international mobile partners through Alipay+.
 
Both parties also decided to collaborate in enhancing WorldFirst's involvement in the Single Euro Payments Area (SEPA) program. Ant International's WorldFirst platform, a digital payment and financial services platform for global businesses, will enhance its involvement in SEPA to facilitate smoother online cross-border payments and fund transfers within the SEPA Zone.
 
BNP Paribas is set to sponsor WorldFirst's involvement in the SEPA scheme, aiding WorldFirst in utilizing the bank's knowledge and offerings to speed up its integration and onboarding process onto SEPA. WorldFirst's clients can now utilize SEPA payment schemes instantly and streamline treasury payments to improve efficiency in their operations.
 
Furthermore, BNP Paribas will investigate new ideas in tokenised deposits for worldwide treasury management with Ant International, utilizing the Whale platform. The partnership is focused on enhancing the effectiveness and speed of international fund settlements by utilizing tokenized deposits.
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