TORONTO, March 02, 2023 (GLOBE NEWSWIRE) -- Clip Money, Inc. (“Clip”) (TSXV:CLIP) (OTCQB:CLPMF), a first-to-market fintech that brings convenient, cost-effective cash management services to retailers, announced a partnership agreement with an international fuel distributor and retailer.
Clip has set up a network of ClipDrops, which are secure, self-service boxes where businesses can quickly and safely deposit cash at select retail stores in Ontario that are open 24 hours, 7 days a week.
“Cost savings are important, and we are delighted the Clip solution will afford local businesses close to these locations that benefit. Convenient, accessible deposit options are paramount for all retailers especially those who operate during extended business hours,” said Joseph Arrage, Clip co-founder and CEO. “Participating retailers will no longer be limited by bank branch hours to manage their cash deposits. I am eager to see how Clip improves this essential process for businesses near these locations.”
The Clip solution is bank-agnostic, meaning any business can make deposits to any bank account they use in more convenient, accessible locations via a ClipDrop. Additionally, deposits can be made at any time of the day by designated business employees. Clip customers are provided with powerful technology through the ClipApp to manage their cash, assign employees to perform banking transactions, track transaction history, collect analytics, and manage personnel. Customers also receive next business day credit for their deposits which improves cash flow.
Existing customers have reported saving hundreds of dollars per month per store in staff costs related to the time it takes to travel and deposit at a bank, a savings which retailers admit is welcomed given the current staffing and resource challenges they are facing.
Chris Horton of Pepper Palace discussed their experience using Clip: “Clip has made making cash deposits so easy and convenient. Not having to travel to the bank branch during their limited hours of operation is a relief.”
Clip Money, Inc. (TSXV:CLIP) (OTCQB:CLPMF) is an infrastructure enabled Fintech that provides the fastest and easiest way for businesses to make deposits securely to their current business bank account through a national network of smart drop box locations in malls, big box stores, and grocery chains. Clip Money, Inc. improves the business deposit experience through transformational digital and mobile enabled platform services. In 2022, Clip announced strategic collaborations with Staples US Retail (“Staples”), Brookfield Properties, BentallGreenOak (BGO), Simon® (NYSE:SPG), Invicta Stores, with additional announcements pending.
Chief Executive Officer