More Users of International UnionPay-Powered E-Wallets Can Now Make Weixin QR Payments in China’s Mainland

SHANGHAI, Dec. 19, 2024 /PRNewswire/ — On December 17, UnionPay International announced its new collaboration with Weixin Pay, which enables users of international UnionPay-powered wallets to scan Weixin Pay payment codes in China’s mainland. Eight wallets are now able to offer this feature, namely BoC Pay from Bank of China (Hong Kong), Octopus, PayMe by HSBC, and Tap & Go in Hong Kong SAR; Bangkok Bank Mobile Banking and K PLUS from KASIKORNBANK in Thailand; Naver Pay in South Korea; and ICBC Mobile Banking (ICBC Pay) in Malaysia. International visitors will thus have access to more mobile payment options during their time in China’s mainland.

With this partnership, once users link their physical UnionPay cards or activate digital UnionPay cards in the participating wallets, they will be able to pay by scanning Weixin Pay payment codes in China’s mainland, with their home currencies automatically converted to the RMB. In the future, Weixin QR payments will also be enabled for more UnionPay-powered wallets from Macao SAR, other Southeast Asia countries, the South Pacific, and more regions.

Since the launch of Project Excellence 2024 in March, UnionPay has actively played its pivotal role as a card scheme to promote open collaboration with industry partners and make payments easier for inbound visitors to China’s Mainland. Starting June, UnionPay App users were able to scan the various merchant-presented Weixin Pay codes and make payments. This new enablement with international wallets marks the latest milestone in the UnionPay – Weixin Pay collaboration to enhance payment interoperability.

This partnership reflects UnionPay’s efforts to jointly drive connectivity with various players in the payment industry and accelerate the development of a sustainable business model. It provides international visitors to China’s mainland with more options and a better payment journey, further contributing to China’s high-standard opening up. Back in 2018, UnionPay worked with Weixin Pay and WeChat Pay HK, an HKD-denominated e-wallet, to offer the cross-border payment solution, which supports cross-border consumption for Hong Kong residents at more than tens of millions of merchants in China’s mainland.

In recent years, as UnionPay continues to improve its localized offerings, an increasing number of residents outside China’s mainland now enjoy the convenient services brought by UnionPay’s payment products. Outside China’s mainland, over 250 million UnionPay cards have been issued in 83 countries and regions, and more than 200 UnionPay-powered wallets have been launched in 36 countries and regions. These products can be used on UnionPay’s acceptance network worldwide.

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LONDON, Dec. 19, 2024 /PRNewswire/ — H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $67 billion of capital under management, is pleased to announce that one of its affiliates has completed its subscription in a rights issue, thereby acquiring a controlling stake in The Grounds Real Estate Development AG (“TGD” or the “Company”), a German real estate developer with a significant presence in the Greater Berlin Area.

Founded in 2007, TGD owns and manages a diversified residential real estate portfolio comprised of standing assets, developments, and a substantial land bank across the Greater Berlin Area. The Company has consistently developed high-quality residential properties that cater to the evolving needs of Berlin’s residents.

With this new investment, TGD is poised to expand its reach, enhance its current offerings, and ensure sustainable growth in the market. It will also allow the Company to capitalize on attractive buying opportunities which address the critical shortage of quality housing in Berlin.

Riccardo Dallolio, Managing Director and Head of H.I.G. Realty in Europe, commented, “Our investment in TGD and its management team gives us outstanding access to the German residential market, allowing us to leverage value-add opportunities at a pivotal time in the cycle.”

Stelios Theodosiou, Managing Director at H.I.G. Realty in Europe, added, “This transaction underscores our strong belief in the enduring value of the German residential sector. We are eager to join forces with TGD’s management team to drive forward our shared vision and capitalize on the market’s long-term potential.”

About H.I.G. Capital

H.I.G. is a leading global alternative investment firm with $67 billion of capital under management.* Based in Miami, and with offices in Atlanta, Boston, Chicago, Dallas, Los Angeles, New York, and San Francisco in the United States, as well as international affiliate offices in Hamburg, London, Luxembourg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro, São Paulo, Dubai, and Hong Kong, H.I.G. specializes in providing both debt and equity capital to middle market companies, utilizing a flexible and operationally focused/value-added approach:

• H.I.G.’s equity funds invest in management buyouts, recapitalizations, and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
• H.I.G.’s debt funds invest in senior, unitranche, and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. also manages a publicly traded BDC, WhiteHorse Finance.
• H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
• H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.

Since its founding in 1993, H.I.G. has invested in and managed more than 400 companies worldwide. The Firm’s current portfolio includes more than 100 companies with combined sales in excess of $53 billion. For more information, please refer to the H.I.G. website at hig.com.

Contact:

Riccardo Dallolio
Managing Director
[email protected]

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Stelios Theodosiou
Managing Director
[email protected] 

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IRVINE, Calif., Dec. 19, 2024 /PRNewswire/ — Loomis selected the Peregrine Connect’s Integration Platform to improve operational efficiency and reduce costs. As one of the largest global networks providing comprehensive payment management solutions across 27 countries, including the United States and much of Western Europe, Loomis sought to strengthen data integration and communication throughout its extensive network.

Loomis recognized the need to scale its operations to address the challenges of expansion. To boost productivity and advance their digital transformation efforts, they identified Peregrine Connect as the ideal low-code integration solution.

By adopting Peregrine Connect, Loomis achieved real-time data integration, ensuring seamless data sharing across its internal teams and customers. This shift eliminated communication silos and established robust integration processes across the organization.

Peregrine Connect enabled Loomis to connect over 1,000 endpoints and establish more than 200 business processes to optimize workflows and improve operational efficiency. This success has positioned the company to focus on long-term goals.

“Peregrine Connect’s management suite is an invaluable tool for our organization. As a non-developer, I appreciate it’s no/low-code capabilities. It enables me to efficiently handle critical tasks like error detection, audits, and message tracking. The platform makes it easy to search for and track messages across multiple applications with intuitive, fast reporting features that help us quickly identify the root causes of issues.”   

–  Petri Rautakoski, Head of IT Integrations at Loomis 

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About Loomis
Loomis, with over 170 years of expertise, is one of the largest global networks delivering comprehensive payment management solutions. Operating in 27 countries, including the United States and most of Western Europe, Loomis specializes in the distribution, handling, recycling, and secure storage of cash and valuables. Their products and services cater to financial institutions, governments, and businesses worldwide, ensuring efficient and secure cash management on a global scale.

About Peregrine Connect
Peregrine Connect is a leading integration platform designed to help businesses simplify the design, deployment, hosting, and management of applications, APIs, and workflows. Its advanced suite of connectors for popular enterprise applications delivers powerful capabilities for data, services, and application integration, along with comprehensive support for business processes and workflows.

Customers gain a superior development experience, enhanced performance, and faster time-to-value. With Peregrine Connect, projects are deployed in weeks rather than months, enabling organizations to achieve their goals with unparalleled efficiency.

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Learn More:  https://www.peregrineconnect.com/

Media Contact:
Nelly Monjazeb: [email protected]

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