Miss A Partners with Clip Money for a Cash Management Makeover

Rhea-AI Summary

Clip Money, Inc. (CLPMF) partners with Miss A, a beauty essentials retailer, to provide innovative cash management solutions, driving down operating costs and optimizing cash flow. The partnership aims to support Miss A's accounting, operations, and loss prevention objectives, with plans for further expansion in 2024.

BOSTON, Feb. 21, 2024 (GLOBE NEWSWIRE) -- Clip Money, Inc. (“Clip”) (TSXV:CLIP) (OTCQB:CLPMF), a leading fintech company that brings modern cash management services to businesses, announces its partnership with Miss A, a rapidly growing beauty essentials retailer.

Miss A has established itself as a preferred destination for beauty enthusiasts seeking on-trend products at affordable prices, with 26 locations across the US. To drive down its operating costs, they chose Clip as a reliable cash deposit service, enabled by technology and the Clip deposit network, located near their stores.

Miss A demonstrated its commitment to innovation early, starting in July 2023 with 3 ClipDrop locations. They were among the first to adopt Clip’s new Change Order feature in October 2023, further solidifying the partnership. This early success led to the addition of 3 new Miss A locations to the Clip network in the same month, with further expansion planned throughout 2024.

"We are thrilled to partner with a fast growing retailer like Miss A and provide them with our innovative cash management solutions," said Joseph Arrage, CEO of Clip. "By automating cash management processes, tracking every deposit, and ultimately optimizing cash flow, I am confident our solution will support Miss A’s accounting, operations, and loss prevention objectives and enable a great experience for all Miss A associates. We look forward to being a part of their existing and upcoming store launches as their preferred cash management solution.”

Clip’s cash management solutions empower businesses like Miss A to streamline their cash deposit process through digitization and automation. Clip supports fast and convenient deposits for any retailer into any bank account through their deposit network located at leading shopping malls, big box retailers and other convenient locations. Store employees perform transactions through an intuitive user interface, while back-office operations benefit from transparency and simplicity. Additionally, Clip customers receive next-business-day credit for deposits, improving cash flow – a critical advantage for today’s retailers.

Lan Yan, VP of Retail, explains why they value using Clip: "Clip provides an innovative approach to cash management for businesses that are left with very limited and antiquated options. The immediate impact of cost savings per location compared to armored pick-up service demonstrates that we made a move in the right direction depositing in Clip's network. We plan to continue expanding while Clip’s network grows across the US in order to strategically address our focus to reduce operating costs."

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

About Clip Money Inc.

Clip Money operates a multi-bank self-service deposit system for businesses through its ClipDrop Boxes and ATMs that provides businesses with the capability of making deposits outside of their bank branch. Deposits can be made at top retailers and shopping malls rather than having to go to a local bank branch or using a cash pickup service. Clips conveniently located ClipDrops or Clip enabled ATMs serve as cash deposit locations, facilitating next business day credit into a business account. Clip combines functional hardware, an intuitive user app and an innovative cloud-based transaction engine that efficiently processes business banking transactions. Clip Money offers a cost-effective and convenient solution for business banking deposits across major markets in Canada and the United States. For more information about the Company, visit www.clipmoney.com.

Website: www.clipmoney.com

Twitter: @clipmoneyinc

LinkedIn: https://www.linkedin.com/company/clipmoney

For further information, please contact:

Joseph Arrage
Chief Executive Officer
tel: 844-593-2547

FAQ

What is the ticker symbol for Clip Money, Inc.?

The ticker symbol for Clip Money, Inc. is CLPMF.

What is the nature of the partnership between Clip Money, Inc. and Miss A?

The partnership involves Clip providing cash management solutions to Miss A, a beauty essentials retailer, to streamline cash deposit processes and optimize cash flow.

How does Clip Money, Inc. support fast and convenient deposits for retailers?

Clip supports fast and convenient deposits for retailers through their deposit network located at shopping malls, big box retailers, and other convenient locations, allowing store employees to perform transactions through an intuitive user interface.

What advantages do Clip customers receive for their deposits?

Clip customers receive next-business-day credit for deposits, improving cash flow and providing a critical advantage for retailers.

Who is the CEO of Clip Money, Inc.?

Joseph Arrage is the CEO of Clip Money, Inc.

How does Miss A benefit from using Clip's cash management solutions?

Miss A benefits from cost savings per location compared to armored pick-up services, demonstrating a move in the right direction for their cash management processes.