BNP Paribas, Ant Int’l ink MOU to enhance cross-border payments

The MOU includes the further development of Ant’s Whale platform.

Ant International has signed a memorandum of understanding (MOU) with BNP Paribas to enhance cross-border payment solutions in Europe.

Both parties have agreed to develop several initiatives in the field of digital payment and business innovations.

BNP Paribas will enable thousands of merchants using the bank’s acquiring service across Europe to accept payments from the 25 international mobile partners of Alipay+.

The bank will also explore innovations in tokenisation deposits for global treasury management with Ant International through Ant’s Whale platform.

Ant is expected to leverage BNP Paribas’ infrastructure to further develop its Whale platform, which is touted as a next-generation treasury management solution.

The platform utilises blockchain, advanced encryption, and AI to improve the efficiency and transparency of fund movements between bank accounts.

BNP Paribas will also sponsor WorldFirst’s participation in the SEPA scheme. 

WorldFirst is Ant’s one-stop digital payment and financial services platform for global businesses.