Clip Money is Here for Retailers Beyond Black Friday With Next Gen Cash Deposit Solution

Rhea-AI Summary

Clip Money, a leading cash deposit solution provider, reported a robust start to the holiday shopping season, with a 17% rise in brick-and-mortar visits. As retailers anticipate ongoing in-store traffic, Clip aims to empower them with efficient cash deposit services through secure self-service deposit boxes. Their offerings include bank-agnostic services, real-time transaction tracking via the ClipApp, and next business day credit for deposits, enhancing cash flow for businesses. Notably, International Restaurant Management Group uses Clip’s platform, praising its efficiency for retail operations.

Positive

• 17% increase in in-store visits during the holiday season.
• Partnership with International Restaurant Management Group, enhancing service credibility.
• Next business day credit for deposits, improving cash flow for businesses.
• User-friendly ClipApp enables real-time tracking and management of transactions.

Negative

• None.

BOSTON, Dec. 01, 2022 (GLOBE NEWSWIRE) -- Clip Money, Inc. (Clip) (TSXV:CLIP) (OTCQB:CLPMF) is a first-to-market cash deposit solution that brings convenient, cost-effective financial services to retailers.

Holiday shopping got off to a strong start despite inflation and recession concerns. Black Friday saw more than 122 million people visit brick-and-mortar stores over the holiday weekend, up 17% according to the National Retail Federation. Retailers expect in-store shopping to be steadily busy throughout December. Clip, as a result, is focused on supporting retailers so that they, in turn, can deliver exceptional customer service over the holiday season.

Clip’s network of secure self-service deposit boxes are conveniently located in common areas of malls and large retailers where business customers can quickly and safely deposit cash.

International Restaurant Management Group (IRMG), with over 150 restaurants under management whose brands include Burger King, Popeyes, Kelly’s Cajun Grill, and Suki Hana, amongst others have been using Clip. Regarding the ClipApp, Matthew Lau, Chief Technology Officer says:

“Clip Money will gift time back to our managers and our back office this Holiday season. Their easy-to-use dashboard and app provide accountability in real time. It reduces lengthy trips to the bank so all parties can focus on the business.”

“It is Clip’s sincere privilege to alleviate some of the holiday stresses our retail customers will face this season while providing a safe and convenient service for cash deposits,” said Joseph Arrage, Clip founder and CEO.

Additional Clip features benefiting businesses include:

• Bank-Agnostic: The Clip network is bank-agnostic, so businesses can make their deposits to existing bank accounts in convenient, accessible locations via a ClipDrop.
• Open All Day: Deposits can be made any time during retail hours by designated retail store managers or employees.
• Quick Access to Funds: Retailers receive next business day credit for their deposits which improves cash flow.
• There’s an App for That: The intuitive ClipApp empowers businesses to manage cash seamlessly with real time visibility to track transaction history and reconcile daily deposits, instant deposit notifications, collect analytics, and manage personnel using the Clip system.

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. In 2022, Clip announced strategic collaborations with Staples US Retail (“Staples”), Brookfield Properties, BentallGreenOak (BGO), Simon^® (NYSE:SPG) with additional announcements pending.

For further information, please contact:

Joseph Arrage
Chief Executive Officer

IR@clipmoney.com
tel: 844-593-2547

FAQ

What are the key features of Clip Money's cash deposit solution?

Clip Money offers bank-agnostic deposits, next business day credit for deposits, and an intuitive ClipApp for real-time transaction tracking.

How has the holiday shopping season impacted Clip Money?

Clip Money reported a strong start to the holiday shopping season with a 17% increase in foot traffic in retail stores.

Which companies are using Clip Money's services?

International Restaurant Management Group, managing over 150 restaurants, utilizes Clip Money's cash deposit solution.

What benefits does the ClipApp provide to businesses?

The ClipApp allows businesses to manage cash deposits seamlessly, providing real-time visibility and transaction history.

How does Clip Money help retailers during the holiday season?

Clip Money provides a convenient cash deposit service, reducing the stress of managing cash during busy retail periods.