SINGAPORE–(BUSINESS WIRE)–Jul 14, 2024–
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.
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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 theregion, 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
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.
(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)
SACRAMENTO, Calif. (AP) — A Southern California school district involved in an ongoing legal battle with the state over the district’s gender-identity policy sued Democratic Gov. Gavin Newsom Tuesday over a new law banning districts from requiring that parents be notified of their child’s gender identification change.
The Chino Valley Unified School District and a handful of parents argued the law violates the rights of parents protected under the U.S. Constitution.
“School officials do not have the right to keep secrets from parents, but parents do have a constitutional right to know what their minor children are doing at school,” Emily Rae, a lawyer representing the district, said in a statement.
But Newsom spokesperson Izzy Gardon called the lawsuit “deeply unserious” and said the new law “preserves the child-parent relationship.”
“California law ensures minors can’t legally change their name or gender without parental consent, and parents continue to have guaranteed and full access to their student’s educational records consistent with federal law,” Gardon said in an email. “We’re confident the state will swiftly prevail in this case.”
Attorney General Rob Bonta sued Chino Valley Unified over a rule its board approved last year requiring school staff to notify parents if their children change their gender identification or pronouns. Bonta said the law discriminated against gender non-conforming students. A judge halted the policy while the case plays out, and the district later updated the rule to broadly require parents to be notified if their child asks to make any changes to their student records.
LGBTQ+ advocacy groups lauded the new California law, while opponents said the ban makes it harder for schools to be transparent with parents.
Newsom signed the first-in-the-nation law Monday, which bans districts from requiring school staff to disclose a student’s gender identity or sexual orientation to any other person without the child’s permission, with some exceptions. It also requires the state Department of Education to develop resources for families of LGBTQ+ students in grade 7 through high school. The law will take effect in January.
Proponents of the ban say it will help protect transgender and gender-nonconforming students who live in unwelcoming households.
“This critical legislation strengthens protections for LGBTQ+ youth against forced outing policies, provides resources for parents and families of LGBTQ+ students to support them as they have conversations on their terms, and creates critical safeguards to prevent retaliation against teachers and school staff who foster a safe and supportive school environment for all students,” Tony Hoang, executive director of LGBTQ+ advocacy group Equality California, said in a statement.
But some conservative groups, including the California Family Council, said the law violates parents’ rights.
“This bill undermines their fundamental role and places boys and girls in potential jeopardy,” Jonathan Keller, the council’s president, said in a statement. “Moms and dads have both a constitutional and divine mandate to guide and protect their kids, and AB 1955 egregiously violates this sacred trust.”
Billionaire Elon Musk said he would move the headquarters of SpaceX and the social media platform X to Texas from California in part because of the new law. Tesla, where Musk is CEO, moved its headquarters to Austin from Palo Alto, California, in 2021.
The new law comes after several school districts in California passed policies requiring that parents be notified if a child requests to change their gender identification. That led to pushback by Democratic state officials, who say students have a right to privacy. Nationwide, lawmakers, families and advocates have been debating the rights of local school districts, parents and LGBTQ+ students.
At least six states have requirements that schools notify parents when minors disclose that they are transgender or ask to be referred to with a different pronoun, according to Associated Press reporting: Alabama, Arkansas, Indiana, North Carolina, South Carolina and Tennessee. Virginia asked school boards to adopt similar policies, but it does not have a law.
Arizona and Idaho also require schools to provide certain information to parents but do not specify gender expression or sexual orientation.
In New Jersey, Attorney General Matt Platkin last year sued four school districts, claiming their policies violate an anti-discrimination law that allows gender-expression information to be shared with a student’s family only with their permission or if there’s a risk to the student’s health and safety.
Conservative groups including the Pacific Justice Institute, the Goldwater Institute and Family Policy Alliance have attempted to intervene in the lawsuit.
States have also weighed in on lawsuits over how local school districts have handled transgender students. Last year, for instance, 23 Republican state attorneys general filed a brief to support a Chico, California, mother who claimed that school officials allowed her child to socially transition without her permission. Sixteen Democratic attorneys general filed a brief on the other side.
Associated Press writer Geoff Mulvihill in Cherry Hill, New Jersey, contributed to this report.
Austin is a corps member for The Associated Press/Report for America Statehouse News Initiative. Report for America is a nonprofit national service program that places journalists in local newsrooms to report on undercovered issues. Follow Austin on X: @sophieadanna
California gender-identity law elicits praise from LGBTQ+ advocates, backlash from parent groups
FILE – Parents, students, and staff of Chino Valley Unified School District hold up signs in favor of protecting LGBTQ+ policies at Don Antonio Lugo High School, in Chino, Calif., June 15, 2023. California Gov. Gavin Newsom signed a law Monday, July 15, 2024, barring school districts from passing policies that require schools to notify parents if their child asks to change their gender identification. (Anjali Sharif-Paul/The Orange County Register via AP, File)
California gender-identity law elicits praise from LGBTQ+ advocates, backlash from parent groups
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