- Ant International and BNP Paribas will explore innovations on
tokenised deposits to improve businesses’ efficiency for global
fund settlements, through the Whale platform
- Alipay+ will support BNP Paribas in helping its merchants
implement cross-border mobile payment solutions from international
payment applications
- WorldFirst will establish a direct connection to the Single
Euro Payments Area Scheme, with BNP Paribas sponsoring its
participation
BNP Paribas, the European Union’s leading bank, and Ant
International, a digital payment and financial technology leader,
have formed a strategic partnership to enhance cross-border payment
solutions for merchants and consumers in Europe.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20240714753209/en/
(Clockwise from top left) Marc Espagnon,
Head of Payment and Cash Management at BNP Paribas, Kelvin Li, GM
of Platform Technology at Ant International, Douglas Feagin,
President of Ant International and Pierre Fersztand, Global Head of
Cash Management, Payments, Trade Solutions & Factoring at BNP
at the MOU signing ceremony on 3 July (Photo: Business Wire)
In a Memorandum of Understanding (MoU) signed on 3 July 2024 in
Zurich by Douglas Feagin, President of Ant International and
Pierre Fersztand, Global Head of Cash Management, Payments,
Trade Solutions & Factoring at BNP Paribas, both parties agreed
to develop several key initiatives, which will see BNP Paribas
working closely with Ant International and its digital payment and
innovative businesses.
BNP Paribas will work with Alipay+, the cross-border mobile
payment and digitalisation technology solutions operated by Ant
International, to enable thousands of merchants that use BNP
Paribas' acquiring service across Europe to accept payments from
more than 25 international mobile partners via Alipay+.
The two sides also agreed to work together to strengthen
WorldFirst’s participation in the Single Euro Payments Area (SEPA)
scheme. WorldFirst, Ant International’s one-stop digital payment
and financial services platform for global businesses, will
reinforce its participation in SEPA to enable businesses to make
online cross-border payments and fund transfers more seamlessly
within the SEPA Zone.
BNP Paribas will sponsor WorldFirst’s participation in the SEPA
scheme, allowing WorldFirst to leverage the bank’s expertise and
products to expedite its integration and onboarding onto SEPA.
WorldFirst’s clients will be able to access payment schemes under
SEPA in real-time and automate treasury payments to optimise their
operations.
In addition, BNP Paribas will explore innovations in tokenised
deposits for global treasury management with Ant International,
through the latter’s Whale platform. The collaboration aims to
improve the efficiency and speed of global fund settlements through
the use of tokenised deposits.
Ant International will leverage BNP Paribas’ infrastructure to
further develop its Whale platform, a next-generation treasury
management solution that utilises blockchain technology innovation,
including advanced encryption and AI, to improve the efficiency and
transparency of fund movement between bank accounts for better
global liquidity management.
Douglas Feagin, President of Ant International, said:
“Europe is an important region for Ant International, with the rise
of cross-border commerce and the increase in travellers to the
region, and of course, the excitement around UEFA EURO 2024 this
year. Through our collaboration with a leading industry partner, we
will bring together digital payments and innovative technology
solutions from Ant International, with BNP Paribas’s depth of
experience in the European market, to deliver greater connectivity
and make global travel and trade more convenient.”
Pierre Fersztand, Global Head of Cash Management,
Payments, Trade Solutions & Factoring at BNP Paribas added:
“This new agreement with Ant International deepens a long-term
collaboration that started in 2016 when Alipay+ was rolled-out in
Europe. This is a key step in bolstering our service offering while
leveraging on each other’s strengths to offer our clients the best
service when it comes to cross-border payments. Additionally, we
are keen to foster innovation with such a key player to develop
tomorrow’s treasury management standards.”
About Ant International
Headquartered in Singapore, Ant International powers the future
of global commerce with digital innovation for everyone and every
business to thrive. In close collaboration with partners, we
support merchants of all sizes worldwide to realise their growth
aspirations through a comprehensive range of tech-driven digital
payment and financial services solutions.
About Alipay+
Alipay+ is a suite of cross-border mobile payment and
digitalisation technology solutions that help connect global
merchants to consumers. Consumers enjoy seamless payment and a
broad choice of deals using their preferred payment methods while
travelling abroad. Small and medium-sized businesses may use
Alipay+ digital tools to enhance efficiency and achieve
omni-channel growth.
About WorldFirst
WorldFirst is meeting the needs of SMEs engaged in international
trade to expand globally. This includes global collection, making
payments, currency conversion, risk management, and supply chain
financing to help SMEs reduce costs and improve turnover efficiency
to generate more revenue, and quickly capture global business
opportunities. WorldFirst, which employs AI and other cutting-edge
technologies for risk control, prioritises the safety and security
of client funds above all else and has a leading fraud-prevention
track record in the industry. WorldFirst has served one million
customers worldwide and is connected to over 120 marketplaces.
WorldFirst was founded in 2004 and joined Ant Group in 2019.
Learn more about WorldFirst at
https://www.worldfirst.com/sg/.
About BNP Paribas
BNP Paribas is the European Union’s leading bank and key player
in international banking. It operates in 63 countries and has
nearly 183,000 employees, including more than 145,000 in Europe.
The Group has key positions in its three main fields of activity:
Commercial, Personal Banking & Services for the Group’s
commercial & personal banking and several specialised
businesses including BNP Paribas Personal Finance and Arval;
Investment & Protection Services for savings, investment and
protection solutions; and Corporate & Institutional Banking,
focused on corporate and institutional clients. Based on its strong
diversified and integrated model, the Group helps all its clients
(individuals, community associations, entrepreneurs, SMEs,
corporates and institutional clients) to realise their projects
through solutions spanning financing, investment, savings and
protection insurance. In Europe, BNP Paribas has four domestic
markets: Belgium, France, Italy and Luxembourg. The Group is
rolling out its integrated commercial & personal banking model
across several Mediterranean countries, Turkey, and Eastern Europe.
As a key player in international banking, the Group has leading
platforms and business lines in Europe, a strong presence in the
Americas as well as a solid and fast-growing business in
Asia-Pacific. BNP Paribas has implemented a Corporate Social
Responsibility approach in all its activities, enabling it to
contribute to the construction of a sustainable future, while
ensuring the Group's performance and stability.
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version on businesswire.com: https://www.businesswire.com/news/home/20240714753209/en/
Ant International Kahmun Leong
kahmun.leong@antgroup.com
BNP Paribas Thomas Alexandre +33
(0)6 02 19 48 69 thomas.alexandre@bnpparibas.com