This partnership will enhance payment efficiency and security for HyperGuest's global network of travel and accommodation partners with Nium's virtual card solution
LONDON, Nov. 5, 2024 /PRNewswire/ -- Nium, the leading global infrastructure for real-time cross-border payments, today announced a strategic partnership with HyperGuest, a premier B2B marketplace for the travel and hospitality industry. This collaboration brings together Nium's advanced virtual card payment solution with HyperGuest's innovative travel distribution platform to deliver greater efficiency, speed, and security in payments for HyperGuest's network of travel partners, hotels, and other accommodation providers around the world.
Payment failures, fraud, and inefficiencies are especially prevalent in B2B hotel transactions due to factors like high transaction volumes and tech incompatibility between payment systems. Many aggregators and online travel agencies are making payments to hotels through legacy banking systems and card networks, where transactions can stall for days or weeks with no visibility into status.
The integration of Nium's virtual card solution into HyperGuest's platform will facilitate faster, more secure, and transparent payments for travel businesses globally. Nium virtual cards, known for real-time local issuance in over 20 local currencies worldwide, will enhance HyperGuest's ability to connect and transact with its expansive network of global partners, streamlining complex payment workflows and eliminating traditional bottlenecks.
Independent hotels and chains on the HyperGuest platform will benefit from automated reconciliaiton and faster settlement, reducing fraud and improving cash flow to unlock working capital. For travel distributors and merchants, improved acceptance and reduced payment costs enable increased collaboration with hotel and accommodation partners.
"In a short period of time, Nium's innovative virtual card solution has enabled us to increase payment volumes and offer more choice, flexibility, and control for travel partners and hotels in our network," said Amit Rahav, Chief Product & Strategy Officer and Co-founder at HyperGuest. "By removing the middleman from the payment journey, Nium is helping us to create a fairer travel payments landscape, streamlining the process to ensure secure, cost-effective, and timely payments for participants across the entire value chain."
The partnership arrives at a pivotal time as the global travel industry adapts to new operational challenges and the growing demand for digital-first financial solutions. Together, Nium and HyperGuest are set to redefine payment processes in the B2B travel ecosystem, helping businesses remain competitive and resilient in an evolving marketplace.
"Our partnership with HyperGuest underscores Nium's commitment to meeting the evolving needs of the travel industry with simpler, faster, and more efficient payments on a global scale," said Max Lehmann, Senior Vice President of Travel Payments at Nium. "We are excited to grow our partnership with HyperGuest, delivering the benefits of our cutting-edge virtual card solution to more hotels and accommodation providers around the world. At the heart of it, it's about unlocking new opportunities for travelers by enabling hotels to focus on what they do best; delivering exceptional guest experiences."
To find out more about how modern payment methods like virtual cards control and shape the booking experience, the specific advantages for hotels and intermediaries, and the wide horizon of new products that these capabilities create, click here.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Nium and HyperGuest Join Forces to Streamline Payments for the Travel and Hospitality Industry
Harnessing Tradition and Innovation: Dong'e Ejiao's Seventh Appearance at the CIIE
SHANGHAI, Nov. 5, 2024 /PRNewswire/ -- On November 5th, the 7th China International Import Expo (CIIE) opened in Shanghai. A key player in China Resources Group's healthcare sector, Dong'e Ejiao Co., Ltd. (hereinafter referred to as "Dong'e Ejiao"), made a prominent appearance. The company is set to host 15 activities focused on the inheritance of Traditional Chinese Medicine (TCM) culture, new product launches, innovative research and development, and the construction of industry chains. These events aim to showcase the unique charm of this time-honored TCM enterprise and engage with upstream, midstream, and downstream partners to explore opportunities and challenges for TCM in the global health arena, thereby promoting the modernization and internationalization of TCM.
Exploring Cultural Potential and Decoding Traditional Chinese Medicine Academic Principles
As a major national-level exhibition, the CIIE continues to improve year by year. Over the past seven years, the expo has consistently conveyed China's message of openness to the world, encouraging more domestic and international enterprises to participate and share in the opportunities offered by China and the global market. Dong'e Ejiao has participated in the CIIE for seven consecutive years, steadfastly carrying the mission of promoting TCM culture. The company is committed to delving into the cultural potential of TCM and persistently spreading the nourishing culture of Ejiao to the world, while resolutely advancing the modernization and internationalization of TCM.
Originating from Dong'e, Ejiao is steeped in the rich cultural heritage of TCM and is revered as a "national treasure of nourishment." On the opening day of the CIIE, Dong'e Ejiao, in collaboration with the Chinese National Geography Magazine, hosted the "Chinese National Geography 'Ejiao Golden Water Source' Award Ceremony and Documentary Screening." The magazine conducted an in-depth study into the mysteries of the groundwater in Dong'e County, recognizing the critical value of this "golden water source" essential for producing authentic Ejiao. As a testament to its significance, Dong'e County was awarded the title of "Ejiao Golden Water Source" by the local government.
Co-produced by Dong'e Ejiao and Chinese National Geography Magazine, the documentary "Underground Flow of 'Gold': Tracing the Golden Water Source" employs scientific and modern methods to analyze the hydrological characteristics, water quality, and historical origins of the Ejiao golden water source. This visual narrative vividly illustrates the fundamental reasons why Dong'e Ejiao is considered an authentic medicinal material. Through experiments and validations, the documentary guides the audience in exploring the scientific principles behind the adage "good water produces good Ejiao."
Effectively Articulating the Story of Traditional Chinese Medicine to Foster Its Globalization Process
The CIIE serves as a crucial window for China to establish a new development paradigm and a key platform for promoting high-level openness. Dong'e Ejiao actively engages with the CIIE, firmly rooted in cultural confidence, and advances a dual-driven approach of brand and culture. By integrating creativity with cultural industries, the company enriches the forms and channels of TCM cultural dissemination, telling the stories of TCM to the world in various forms and languages.
During the CIIE, a series of events will be held, including the international exchange forum for the TCM cultural reality show "Young TCM Practitioners," the launch ceremony of the large-scale TCM cultural international communication project "Global TCM" by Phoenix Television and Dong'e Ejiao, and the "Time-Honored Chinese Brands Global Tour." Through documentary screenings, short video planning, and the release of a TCM white paper, Dong'e Ejiao actively disseminates traditional TCM cultural knowledge, ensuring high-quality cultural output and helping TCM gain worldwide recognition.
Focusing on R&D Innovation: Leading High-Quality Industry Development
Preserving the essence while embracing innovation, Dong'e Ejiao has consistently leveraged technology to drive the inheritance and innovation of TCM. The company actively fosters new productive forces in TCM. Under the guidance of a "dual-driven" model that includes pharmaceuticals and health consumer products, Dong'e Ejiao has established an R&D system known as "One Center, Three High Grounds." This framework is supported by a youthful, professional team dedicated to channel service. The company innovates across multiple dimensions, including application fields, consumption methods, usage scenarios, and channel services, setting a new benchmark in the health and wellness industry.
On the opening day of the CIIE, Dong'e Ejiao hosted the global launch of its new tea beverage, "Jinshanghua." Throughout the expo, the company will also introduce new Ejiao powder and initiate several critical projects in medical research and development. These include the development of a formulation for treating rheumatoid arthritis with multiple organ complications and a randomized, double-blind, placebo-controlled, multi-center Phase II clinical study on the efficacy and safety of a compound Ejiao syrup for treating cancer-related fatigue (Qi and Blood Deficiency Syndrome). These efforts underscore Dong'e Ejiao's commitment to empowering the modernization of TCM through academic research.
Additionally, Dong'e Ejiao will grandly unveil its "Changfeng Plan" channel brand for health consumer products and its customer operation strategic service system. These initiatives are expected to attract numerous partners to enter into strategic collaborations with Dong'e Ejiao.
Strategic Full-Chain Development: Connecting the Future of the Health Industry
To advance the modernization of the TCM industry chain, Dong'e Ejiao has gradually established a comprehensive "Three-Industry Integration" development model. This model seamlessly connects the upstream, midstream, and downstream sectors, integrating all essential elements. It not only contributes to the creation of local specialty industries but also expands into the fields of deer products, desert Cistanche deserticola Ma, and ginseng.
At the CIIE, Dong'e Ejiao will host several events, including the signing ceremony for the traceability of authentic medicinal materials for compound Ejiao syrup and strategic TCM suppliers, the launch of the "Royal Paddock 1619" brand, and the global release of the Cistanche deserticola Ma industry project. By developing a high-quality, resilient, and sustainable supply chain system, Dong'e Ejiao aims to efficiently connect the entire industry chain, achieving chain extension, value enhancement, and supply chain integration. This approach further strengthens long-term, stable, and mutually beneficial partnerships.
Cheng Jie, Chairman of Dong'e Ejiao, stated that at this new historical juncture, Dong'e Ejiao will actively engage in international cooperation and cultural exchange, effectively communicating the unique stories of TCM culture. The company is committed to enhancing the international influence of TCM and contributing Chinese wisdom and strength to the health and well-being of all humanity.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Dong'e Ejiao Continues to Propel Traditional Chinese Medicine onto the Global Stage
Dong'e Ejiao Continues to Propel Traditional Chinese Medicine onto the Global Stage
Dong'e Ejiao Continues to Propel Traditional Chinese Medicine onto the Global Stage
