CLPS Inc. (Nasdaq: CLPS) announced Wednesday that its subsidiary has signed a vendor agreement with a digital payment platform to provide IT services.
Shares of CLPS were trading at $12.30 intraday, peaking earlier at the 52-week high of $19.78 per share.
The Shanghai-based company aims to respond to the strong demand for IT services in the market, making cooperation with the client headquartered in the U.S. is necessary for the company. It enables the well-established business relationship of both parties to transpire in the international market.
Henry Li, the chief operating officer of CLPS, stated, "The pace of change across the payment industry has significantly accelerated in the span of the Covid-19 pandemic, which reshaped the people's lives across the world. It has always been our commitment to deliver comprehensive IT services to the Client ensuring safe and secured online payment transactions. In addition, the new contract we gained is another step forward in our U.S. footprint."
Earlier this week, CLPS Technology announced a Master Services Agreement with a large U.S. e-commerce platform. CLPS said it will provide IT services, including big data management for the client's cross-border e-commerce system.
Founded in 2005, CLPS provides banking, insurance, and financial services in China and globally. CLPS operates large financial institutions located in the United States, Europe, Australia and Hong Kong. It also operates seven research and development (R&D) centers in mainland China, and three globally.