04:21:03 EDT Sat 18 May 2024
Enter Symbol
or Name
USA
CA



Clip Money Inc
Symbol CLIP
Shares Issued 141,942,288
Close 2024-02-21 C$ 0.21
Market Cap C$ 29,807,880
Recent Sedar Documents

Clip Money to provide cash deposit services to Miss A

2024-02-21 12:16 ET - News Release

Mr. Joseph Arrage reports

MISS A PARTNERS WITH CLIP MONEY FOR A CASH MANAGEMENT MAKEOVER

Clip Money Inc. has partnered 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 United States. To drive down its operating costs, Miss A chose Clip as a reliable cash deposit service, enabled by technology and the Clip deposit network, located near its stores.

Miss A demonstrated its commitment to innovation early, starting in July, 2023, with three ClipDrop locations. It was 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 three 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, chief executive officer 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, vice-president of retail, explains why Miss A values 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 U.S., in order to strategically address our focus to reduce operating costs."

About Clip Money Inc.

Clip Money operates a multibank 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. Clip's 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.

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