Benzinga | Nov 16, 2020 08:04AM EST

CLPS Incorporation Wins IT Services Provider Bid For A Bank Card Processing Services Company In China

HONG KONG, Nov. 16, 2020 /PRNewswire/ -- CLPS Incorporation (Nasdaq: CLPS) ("CLPS" or "the Company"), today announced that it has won the IT services provider bid for a well-known bank card processing services company in China ("Client"). CLPS, through its Shanghai subsidiary, and the Client have signed the Procurement of IT Services Provider Agreement. Both parties have agreed to cooperate in the development, operation, maintenance, and testing of the bank card issuance core system and peripheral value-added products, as well as in providing consulting and data analysis services.

CLPS has successfully won the bid on its initial cooperation with the Client. For over ten years, CLPS has implemented set of comprehensive credit card system services for a major U.S. bank, large state-owned banks in China, and for a leading international credit card association. In addition, the Company's extensive experience and its pool of highly qualified IT professionals make it a cut above the other competitors. Moreover, CLPS has been commended by its clients for its capability in providing credit card technology and business services. The cooperation also sets a major achievement in the credit card services business of CLPS, following the establishment of Qinson Credit Card Services Ltd., the Company's wholly-owned subsidiary focused on credit card services, which gains a strong foothold for business growth going forward.

The Client is a subsidiary of a leading bank card association in China. It offers consulting and data analysis services focused in the credit card business. In addition, it provides card issuance data processing service that covers different types of cards, such as credit card, debit card, prepaid card, and integrated circuit (IC) card for offline transaction. The Client follows the Chinese and international card associations' compliance standards to ensure a secure, stable, and efficient operational services for more than two hundred card issuers and millions of bank cards in China and globally.

Mr. Henry Li, Chief Operating Officer of CLPS, said, "With years of continuous business development and improvement, we are confident and excited for our credit card services to be offered to our clients, which effectively reflects the Company's successful implementation of its growth strategy. CLPS consistently adheres to achieving a mutually beneficial cooperation and providing clients with world-class professional IT services."