Business
CLPS Incorporation Establishes New Company Focused on Credit Card Service Business to Integrate Resources, Expand Business Scope, and Reduce Operational Cost
SHANGHAI, Feb. 4, 2020 /PRNewswire/ -- CLPS Incorporation (Nasdaq: CLPS) ("CLPS" or "the Company") today announced that it established a new company, Qinson
About this update from Clps Incorporation
[{"type":"text","content":"SHANGHAI, Feb. 4, 2020 /PRNewswire/ -- CLPS Incorporation (Nasdaq: CLPS) (\"CLPS\" or \"the Company\") today announced that it established a new company, Qinson Credit Card Services Limited (\"Qinson Credit Card\"), a wholly-owned subsidiary based in Hong Kong, on December 31, 2019, to cater to the credit card service demands of the financial industry. The establishment of this subsidiary is in-line with the Company's strategic business development plan.\nWith more than ten years of experience in the credit card service industry, CLPS is a leading service provider with hundreds of professionals specializing in the areas of credit card technology and business services. The Company has successfully implemented credit card systems for many large banks and other financial institutions, covering multinational and multi-currency transactions. The aggregate revenue of the Company's credit card related business, including Qinson Credit Card, is forecasted to be approximately $7 million in fiscal year 2020.\nBy integrating the Company's credit card service resources and its in-depth knowledge and successful applications of advanced technologies such as big data, blockchain, and robotic process automation (RPA), Qinson Credit Card is well positioned to provide clients a full range of credit card services and to meet growing demand from new application scenarios and innovations in the credit card business. As a result, CLPS is able to further expand its business, reduce operational costs, improve performance efficiency, and enhance the user experience.\nMr. Andy Xiang, General Manager of Qinson Credit Card, said, \"Qinson Credit Card aims to provide clients with comprehensive credit card services such as consulting, business operations, product implementation, business hosting, skills training, infrastructure construction, and other services. Through extensive planning and professional management, we believe Qinson Credit Card's services are the right solutions for existing and potential clients. To achieve our growth objectives, we will continuously improve our service capabilities, enhance the Company's core service offering, and continue to execute on our business development strategy.\"\nMr. Henry Li, Chief Operating Officer of CLPS, commented, \"The establishment of Qinson Credit Card is an important milestone for CLPS. We expect Qins...