Clip Partners with WPG to Expand Cash Deposit Network for Businesses

Rhea-AI Summary

Clip Money, Inc. (TSXV:CLIP) (OTCQB:CLPMF) has announced a strategic partnership with WPG, a major commercial real estate owner in the United States. This collaboration will expand Clip's cash deposit network for businesses, introducing ClipDrop services to 23 new shopping center locations.

Clip's technology offers a multi-bank, self-service deposit system for businesses, providing a secure and convenient solution for cash and coin management. The partnership aims to serve over 3,000 retail stores within walking distance of ClipDrop locations, eliminating the need for off-site bank visits or armored car services.

Additionally, Clip has launched ClipChange, a coin and banknote delivery service, further enhancing its cash management offerings. This expansion addresses the growing demand for improved store operations and enhanced loss prevention measures in the retail sector.

Positive

• Expansion of Clip's cash deposit network to 23 new shopping center locations
• Partnership with WPG provides access to over 3,000 retail stores
• Launch of ClipChange service for coin and banknote delivery
• Potential for continued growth coast-to-coast

Negative

• None.

Clip’s technology brings faster, more secure cash deposits to 23 new locations in the United States

BOSTON, July 18, 2024 (GLOBE NEWSWIRE) -- Clip Money, Inc. (“Clip” or “Company”) (TSXV:CLIP) (OTCQB:CLPMF), a company that operates a multi-bank, self-service deposit system for businesses, is excited to announce a strategic partnership with WPG, a leading owner and operator of diverse commercial real estate across the United States.

Clip has become an essential service for businesses nationwide, offering a secure and convenient solution to manage cash and coin deposits. Retailers have long faced the challenge of accessing secure deposit services, but Clip resolves this issue by providing a universal cash deposit location on premise, available during mall hours and within close proximity to over 3,000 retail client stores within walking distance of a ClipDrop. In addition, Clip has launched ClipChange for their customers, a convenient coin and banknote delivery service that further eliminates the need for bank visits.

WPG, known for positioning its retail partners for success with a desirable market presence, now offers ClipDrop as its newest mall amenity: a modern, bank-agnostic deposit solution for efficient on-site cash management.

The initial phase of Clip’s expansion across WPG’s portfolio will launch with installations at 23 shopping centers, with plans for continued growth coast-to-coast. This partnership addresses the growing demand for improved store operations and enhanced loss prevention measures.

“Partnering with WPG is a tremendous opportunity. As a leading shopping center operator dedicated to retailer success, their mission aligns perfectly with our commitment to modernize cash for retail businesses. We are thrilled to introduce our industry-leading cash management solutions to 3,000+ stores in their mall network. This collaboration will enable these retailers to streamline operations, eliminating the hassles and costs of off-site bank visits or unreliable armored car services. We're excited to help them thrive in today's competitive marketplace." - Joe Arrage, CEO, Clip Money Inc.

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

FAQ

What is the new partnership announced by Clip Money Inc. (CLPMF)?

Clip Money Inc. (CLPMF) has announced a strategic partnership with WPG, a leading commercial real estate owner in the United States, to expand its cash deposit network for businesses to 23 new shopping center locations.

How many retail stores will Clip's services potentially reach through the WPG partnership?

The partnership with WPG will potentially reach over 3,000 retail stores within walking distance of ClipDrop locations in the shopping centers.

What new service has Clip Money Inc. (CLPMF) launched alongside ClipDrop?

Clip Money Inc. (CLPMF) has launched ClipChange, a convenient coin and banknote delivery service that further eliminates the need for bank visits for their customers.

How does Clip's technology benefit retail businesses?

Clip's technology provides a secure, multi-bank, self-service deposit system for businesses, offering convenient cash and coin management, streamlined operations, and eliminating the need for off-site bank visits or armored car services.