Clip Money Inc. Expands Partnership with CBL Properties to Bring On-Site Cash Deposit Services to 36 Malls
Clip Money announces expansion of its partnership with CBL Properties to provide on-site cash deposit services across 36 shopping malls. Following successful installations in 16 CBL properties during Phase 1 in early 2024, Phase 2 will add 20 more locations by Q4. The expansion will potentially service over 3,700 retailers within CBL's portfolio. Clip's technology allows retailers to make cash deposits without leaving mall premises and offers ClipChange service for on-site coin and cash deliveries. This solution helps stores reduce time spent on cash management and eliminates the need for costly armored carrier services.
Clip Money annuncia l'espansione della sua partnership con CBL Properties per fornire servizi di deposito contante in loco in 36 centri commerciali. Dopo installazioni di successo in 16 proprietà CBL durante la Fase 1 all'inizio del 2024, la Fase 2 aggiungerà ulteriori 20 location entro il quarto trimestre. L'espansione potrà servire oltre 3.700 dettaglianti nel portafoglio di CBL. La tecnologia di Clip consente ai rivenditori di effettuare depositi in contante senza lasciare il centro commerciale e offre il servizio ClipChange per consegne di monete e contante in loco. Questa soluzione aiuta i negozi a ridurre il tempo dedicato alla gestione del contante e ad eliminare la necessità di costosi servizi di trasporto valori.
Clip Money anuncia la expansión de su asociación con CBL Properties para proporcionar servicios de depósito de efectivo en el lugar en 36 centros comerciales. Tras la exitosa instalación en 16 propiedades de CBL durante la Fase 1 a principios de 2024, la Fase 2 añadirá 20 ubicaciones más para el cuarto trimestre. La expansión potencialmente atenderá a más de 3,700 minoristas dentro del portafolio de CBL. La tecnología de Clip permite a los minoristas realizar depósitos en efectivo sin salir de las instalaciones del centro comercial y ofrece el servicio ClipChange para entregas de monedas y efectivo en el lugar. Esta solución ayuda a las tiendas a reducir el tiempo dedicado a la gestión de efectivo y elimina la necesidad de costosos servicios de transporte de valores.
Clip Money는 CBL Properties와의 파트너십을 확장하여 36개의 쇼핑몰에서 현장 현금 입금 서비스를 제공한다고 발표했습니다. 2024년 초에 진행된 1단계에서 16개의 CBL 자산에 성공적으로 설치된 후, 2단계에서는 4분기까지 20개의 추가 위치가 추가될 예정입니다. 이 확장은 CBL의 포트폴리오 내 3,700개 이상의 소매업체에 서비스를 제공할 수 있습니다. Clip의 기술은 소매업체가 쇼핑몰 안에서 현금 입금을 할 수 있도록 하고, 현장에서 동전 및 현금 배달을 위한 ClipChange 서비스를 제공합니다. 이 솔루션은 매장이 현금 관리를 위해 소요하는 시간을 줄이고 비용이 많이 드는 경호 서비스의 필요성을 없애는 데 도움이 됩니다.
Clip Money annonce l'extension de son partenariat avec CBL Properties pour fournir des services de dépôt de cash sur place dans 36 centres commerciaux. Après des installations réussies dans 16 propriétés CBL lors de la Phase 1 au début de 2024, la Phase 2 ajoutera 20 autres emplacements d'ici le quatrième trimestre. L'expansion pourrait potentiellement servir plus de 3 700 détaillants au sein du portefeuille de CBL. La technologie de Clip permet aux détaillants de faire des dépôts en espèces sans quitter les lieux du centre commercial et propose également le service ClipChange pour les livraisons de monnaies et d'espèces sur place. Cette solution aide les magasins à réduire le temps consacré à la gestion des liquidités et élimine le besoin de services de transport de fonds coûteux.
Clip Money kündigt die Expansion seiner Partnerschaft mit CBL Properties an, um vor Ort Bargeldeinzahlungsdienste in 36 Einkaufszentren anzubieten. Nach erfolgreichen Installationen in 16 CBL-Objekten während Phase 1 Anfang 2024 wird Phase 2 weitere 20 Standorte bis zum vierten Quartal hinzufügen. Die Expansion wird potenziell über 3.700 Einzelhändler im Portfolio von CBL bedienen. Die Technologie von Clip ermöglicht es Einzelhändlern, Bargeldeinzahlungen zu tätigen, ohne das Einkaufszentrum zu verlassen, und bietet den Service ClipChange für die Lieferung von Münzen und Bargeld vor Ort an. Diese Lösung hilft den Geschäften, die Zeit für die Bargeldverwaltung zu reduzieren und die Notwendigkeit kostenintensiver Sicherheitsdienste zu beseitigen.
- Expansion to 20 additional mall locations by Q4 2024
- Potential to service over 3,700 retailers in CBL's portfolio
- Successful completion of Phase 1 installations in 16 properties
- Reduces operational costs by eliminating need for armored carrier services
- None.
BOSTON, Nov. 07, 2024 (GLOBE NEWSWIRE) -- Clip Money, Inc. (“Clip” or “Company”) (TSXV:CLIP) (OTCQB:CLPMF), a company that operates the largest shared deposit network for businesses in the United States, is thrilled to announce the expansion of its partnership with CBL Properties (“CBL”), which owns a national portfolio of properties including 55 high-quality enclosed malls, lifestyle centers and outlet centers. This partnership will bring Clip’s cutting-edge deposit technology to an additional 20 of CBL’s top properties by October 24.
Clip has been instrumental in addressing the operational challenges faced by retailers, providing a secure, convenient network for depositing cash. By removing the need for store operators to leave the mall to make deposits, Clip helps retailers keep their staff on-site during operating hours. In addition, Clip facilitates on-site coin and cash deliveries with its unique service ClipChange, further consolidating the cash management process through a single platform.
During the first phase of installations in the first half 2024, Clip’s deposit system was successfully installed in 16 of CBL’s properties. With the success of this rollout, Phase 2 will extend the service to an additional 20 malls by Q4. This strategic move underscores both companies’ commitment to enhancing the retail experience and supporting the operational needs of local, regional, and national businesses.
“As more retailers face the challenge of commuting off-site to manage cash deposits and paying increasing fees with armored carrier services, Clip’s solution has become an indispensable amenity,” said Jeff Gregerson, Senior Vice President-Specialty Leasing of CBL Properties. “By offering this service across our malls, we’re helping brands across our portfolio save time and money while improving their operational efficiency.
Clip is now available in 36 of CBL’s U.S. properties, with the potential to service over 3,700 retailers within the portfolio. The rising demand for on-site deposit solutions signals a shift in the retail industry towards more efficient, technology-driven operations, with Clip leading the way in transforming cash management.
“Our goal is to make cash handling easier and more secure for retailers. By expanding with CBL Properties, we’re helping stores reduce the time and costs tied to off-site cash management, allowing them to focus on providing an exceptional shopping experience for their customers,” said Brian Bailey, President of Clip.
About Clip Money Inc.
Clip operates a multi-bank cash management system for businesses through its nationwide network of ClipDrop Boxes and ClipATMs that gives users the capability of making deposits outside of their bank branch at top retailers and shopping malls. Rather than having to go to their personal bank branch or using a cash pickup service, businesses can deposit their cash at any convenient Clip network location. After being deposited, the funds will automatically be credited to the business’ bank account, usually within one business day. Clip also provides businesses low denomination notes and coins through its innovative ClipChange solution, delivering change directly to a business store front on-demand. The Company combines functional hardware, an intuitive mobile app and an innovative cloud-based transaction engine that maximizes business banking transactions. Combined with mobile user applications, Clip offers a cost-effective and convenient solution for business banking deposits in metropolitan statistical areas across Canada and the United States. For more information about the Company, visit www.clipmoney.com.
For further information, please contact:
Joseph Arrage
Chief Executive Officer
tel: 844-593-2547
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