UK-based CPP Group has partnered with China-based Bank of Communications (BoCom) to provide online card loss reporting services.
BoCom is a leading bank in China, with its registered mobile banking customers touching 74 million at the end of 2018.
It has issued 70 million credit cards, out of which 10 million were issued last year alone.
As part of the collaboration, BoCom banking customers will be able to access the loss reporting service through BoCom’s app, “Mai Dan Ba”.
The bank’s customers can get online help round-the-clock in case their card is lost.
Through a dedicated customer service team, the CPP group, upon receiving the report of card-loss, instantly blocks the card.
Additionally, it also offers bank card theft and loss protection services to safeguard customers from financial losses.
CPP Group CEO Jason Walsh said: “China is a very important market for CPP and the partnership with BoCom is a clear reflection of our ambitious growth plans in this area. In our recent half-year financial results announcement, we were pleased to report that revenue in China has grown by 84% compared to the same period last year.
“This impressive growth shows the significant market opportunity available to CPP, with the team in China playing a significant role in us realising this potential.”
Bank of Communications senior manager of product development Spencer Yang said: “Ensuring our customers have sufficient protection when it comes to their cards is really important to us. The service that CPP is providing will enable us to deliver additional, valuable services to our customers.”
Bank of Communications manages a network of 2,800 offices across the globe. Some of these offices are located in major cities, such as New York and Sydney.
Apart from Bank of Communications, CPP Group offers its loss reporting service to Shanghai Pudong Development Bank, Ping An Bank, China Guangfa Bank, and JD.com in China.