Clip Expands Innovative Cash Deposit Solution at Brookfield Properties’ Malls Across the U.S.

Rhea-AI Summary

Clip Money (TSX-V:CLIP)(OTCQB:CLPMF) has partnered with Brookfield Properties to introduce ClipDrops, secure self-service cash deposit boxes, in various malls. These installations allow retailers to quickly deposit cash and coins at their convenience, improving operational efficiency and reducing costs. Clip currently operates over 70 locations managed by Brookfield, helping retail clients save significantly on time and staffing related to bank deposits. The mobile app further streamlines cash management and offers next-day credit for deposits.

Positive

• Partnership with Brookfield Properties expands Clip's cash deposit service network to over 70 mall locations.
• Retailers can save hundreds monthly on staff costs for bank deposits.
• ClipDrops enhance operational efficiency by allowing convenient cash deposits directly into bank accounts.

Negative

• None.

BOSTON, Sept. 20, 2022 (GLOBE NEWSWIRE) -- Clip Money, Inc. (“Clip”) (TSX-V:CLIP) (OTCQB:CLPMF), a first-to-market cash deposit solution that brings fast, convenient, cost-effective financial services transactions to business customers, announced an agreement with Brookfield Properties to establish a network of ClipDrops at a selection of their malls.

The network of ClipDrops are free-standing, secure, self-service boxes located in malls and at large retailers where retailers can quickly and safely deposit cash and coin. Clip is currently located in over 70 malls managed by Brookfield Properties including locations such as:

• Galleria at Tyler, Riverside, Calif.
• Christiana Mall, Newark, Del.
• Beachwood Place, Beachwood, Ohio
• Staten Island Mall, Staten Island, N.Y.
• Natick Mall, Natick, Mass.
  

“Brookfield Properties shares our belief that retailers are the beating heart of our economy, and it's crucial that they have access to convenient, affordable and accessible banking solutions that simplify cash transactions,” said Joseph Arrage, Clip founder and CEO.

Clip is bank-agnostic, so businesses can make their everyday deposits in more convenient and accessible locations via a ClipDrop and directly into their existing bank account. Deposits can be made any time of day during extended retail hours by designated employees.

“Our collaboration with Clip is a great addition to our properties. We’re always looking for new and innovative ways to support our retailers, and this can provide them with a great on-site cash deposit solution,” said Katie Kurtz, SVP of Business Development for retail at Brookfield Properties.

Retailers can use the Clip mobile app to manage their cash, assign employees to perform banking transactions, track transaction history, collect analytics, and manage personnel’s access to the system. Retailers also receive next business day credit for their deposits which improves cash flow. Existing retail users have reported saving hundreds of dollars per month in staff costs related to the time it takes to travel and deposit at a bank, per store, a savings which retailers admit is a welcome relief given current staffing and resource challenges that they are facing.

“As we expand the Clip network across the US, operating at Brookfield Properties’ mall locations enables us to serve retailers across a wide-range of US geographies,” Arrage continued. “We are looking forward to driving change in the cash ecosystem to evolve to support the needs of businesses today.”

To learn more, please visit www.clipmoney.com, and for a full list of locations, visit https://clipmoney.com/locations

ABOUT CLIP
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.

For further information, please contact:

Joseph Arrage

Chief Executive Officer

IR@clipmoney.com

tel: 844-593-2547

FAQ

What is Clip Money's recent partnership announcement involving CLPMF?

Clip Money has partnered with Brookfield Properties to introduce self-service cash deposit boxes called ClipDrops in various malls.

How many locations will Clip Drops be available in?

Clip Drops will be available in over 70 malls managed by Brookfield Properties.

How do Clip Drops benefit retailers?

Retailers benefit by saving on staff costs and gaining convenient access to cash deposit services at mall locations.

What are the advantages of using Clip's mobile app for retailers?

The app allows retailers to manage cash transactions, track history, and assign employees for banking transactions.

When will retailers receive credit for deposits made through Clip?

Retailers will receive next business day credit for their deposits, improving cash flow.