Societe Generale has signed a Memorandum of Understanding (MOU) with cross-border trade payment platform XTransfer to develop integrated financial tools to support international trade flows.

The agreement, announced at Money20/20 Europe 2026 in Amsterdam, will see the two companies explore new ways to simplify international payments for businesses trading across Europe, China and other global markets.

The partnership aims to address common challenges that businesses face when moving money across borders, including fragmented payment processes, limited transparency around fees and foreign exchange rates, lengthy settlement times and complex compliance requirements.

Under the agreement, the firms will examine opportunities to combine the bank's transaction banking infrastructure with the digital payment platform.

The companies said they plan to develop local collection and outbound payment services designed to help suppliers receive payments from overseas buyers more efficiently while enabling importers to pay suppliers around the world more quickly and securely.

Societe Generale will also explore "Pay to China" services that support settlement and transfers in both US dollars and Chinese yuan across Hong Kong and mainland China. The initiative aims to strengthen payment connectivity between Asia and Europe and improve the efficiency of cross-border trade settlements.

In addition, the partnership will explore foreign exchange services that allow businesses to convert local currencies into major trading currencies such as the US dollar and euro more quickly and reliably.

“Seamless and transparent cross-border payments are now a baseline expectation for internationally active clients,” said Andreea Parneci, deputy head of global transaction and payment services at Societe Generale. “This initiative also reflects our ambition to further scale our transaction banking franchise, helping clients navigate an increasingly complex global trade landscape.”

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