Major Chinese bank renews contract with financial services company

One of the biggest banks in China has extended its contract with Leeds-based product and services company CPP Group, to help customers whose payment cards go missing.

CPP Group China has signed a three-year deal with Bank of Communications Pacific Credit Card Centre (Bocomm) based in Shanghai.

It builds on a relationship started in 2018 and follows a competitive tender process.

Bocomm is currently ranked at 150 on the Fortune Global 500 list of most valuable companies and has issued more than 150 million debit cards and 70 million credit cards in China.

CPP is providing customers of Bocomm with theft and loss protection to help guard themselves from financial losses.

Wilson Chan, chief executive of CPP Group China, said: “We are delighted to have earned the endorsement of one of the biggest banks in China.

“Bocomm rightly expects very high levels of customer service and to win a three-year partnership says a lot about the success of our relationship up to now.”

Jason Walsh, CPP Group chief executive, said: “Our China operation has built an excellent portfolio of partners and it is terrific to see new relationships like this one with Bocomm become firmly established.

“We’re protecting 300,000 Bocomm customers after less than 18 months working together so we hope to increase that base significantly over the next three years.”

Spencer Yang, from Bocomm’s Pacific Credit Card Centre, said: “Helping our customers at important moments such as losing a payment card is a vital connection point to our bank so this service must be delivered seamlessly.

“CPP Group China has lived up to that standard and we’re looking forward to building an even stronger partnership following this contract extension.”