XTransfer, the B2B cross-border trade payment platform, and Societe Generale have signed a Memorandum of Understanding to enhance cross-border payment infrastructure and develop integrated financial solutions supporting international trade flows.
The agreement, announced during Money20/20 Europe 2026 in Amsterdam, targets more efficient, seamless and cost-effective cross-border payment experiences, particularly for businesses operating from China across Europe and global markets.
The MOU was announced by Neil Ni, Chief Strategy Officer of XTransfer, alongside Queenie Lo, Head of Global Transaction Banking Hong Kong, and Edwin Hartog, Head of Global Transaction Banking Netherlands, at Societe Generale.
Despite growing trade flows, many businesses still face persistent frictions in cross-border payments: fragmented collection solutions, limited transparency over fees and FX, lengthy settlement times, and complex compliance requirements across jurisdictions. The two firms intend to combine bank-grade resilience, regulatory expertise and execution capabilities with platform-enabled digital connectivity to address these gaps.
Under the MOU, the parties will explore integrated cross-border financial solutions, including local collection and outbound payment services that help suppliers collect from overseas buyers more efficiently, while enabling global importers to pay suppliers worldwide with greater speed, security and operational certainty.
Societe Generale: What It Means
The cooperation also covers “Pay to China” services with USD and CNY settlement and transfer services in Hong Kong SAR and Mainland China, strengthening connectivity for trade flows between Asia and Europe. The parties will further explore FX solutions to enable fast and reliable conversion of local currencies into major currencies such as USD and EUR.
Bill Deng, Founder and CEO of XTransfer, said, “We are pleased to sign this MOU with Societe Generale to strengthen X-Net, a globally unified B2B cross-border settlement network and risk management platform developed by XTransfer, with deeper banking connectivity for global traders. By combining Societe Generale’s transaction banking capabilities with XTransfer’s platform and global SME network, we aim to deliver more digital, scalable cross-border payment solutions for traders worldwide.”
Andreea Parneci, Deputy Head of Global Transaction and Payment Services at Societe Generale, added: “Seamless and transparent cross-border payments are now a baseline expectation for internationally active clients. By combining our global infrastructure with an innovative digital platform such as XTransfer, we continue to enhance the efficiency and reliability of international payments. This initiative also reflects our ambition to further scale our transaction banking franchise, helping clients navigate an increasingly complex global trade landscape.”
Founded in 2017, XTransfer reported over US$60 billion in total payment volume in 2025, according to CIC, and serves more than 897,000 registered SMEs globally as of March 31, 2026, with payment services across more than 200 countries and regions. The platform holds licences in major hubs including the Chinese Mainland, Hong Kong China, the UK, the USA, Canada, Australia, Singapore, and the Netherlands.
Societe Generale employs around 110,000 people serving 27 million clients in 58 countries.
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