These offerings are intended to help suppliers receive payments from overseas buyers. Credit: vittaya pinpan/ Shutterstock.com.

XTransfer has signed a memorandum of understanding (MoU) with Societe Generale to improve cross-border payment infrastructure.

The agreement, signed during Money20/20 Europe 2026 in Amsterdam, also covers the development of “integrated financial solutions” for international trade transactions.

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In a statement, XTransfer said the cooperation is intended to support businesses operating from China into Europe and other global markets.

XTransfer cited ongoing challenges affecting cross-border payments for internationally active businesses. These include fragmented collection options, limited visibility over fees and foreign exchange, longer settlement times, and complex compliance requirements across jurisdictions.

Under the MoU, XTransfer and Societe Generale will combine capabilities to streamline international payment flows.

The parties also plan to explore integrated cross-border financial solutions, including local collection and outbound payment services.

These offerings are intended to help suppliers receive payments from overseas buyers and enable importers to pay suppliers in different countries with “greater speed, security and end-to-end operational certainty”.

The cooperation also includes “Pay to China” services with USD and CNY settlement, as well as transfer services in Hong Kong SAR and Mainland China.

The parties will also explore foreign exchange solutions to support conversion from local currencies into major currencies for cross-border settlement.

XTransfer founder and CEO Bill Deng 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.”

Earlier this year, XTransfer, a B2B cross-border trade payment platform, secured conditional approval in Malaysia for key payment licences.