Clip Money Accelerates Network Growth in 2023 Following Successful 2022 U.S. Launch
BOSTON, Jan. 19, 2023 (GLOBE NEWSWIRE) -- Clip Money, Inc. (“Clip”) (TSXV:CLIP) (OTCQB:CLPMF), a revolutionary cash deposit solution that brings convenient, cost-effective financial services to retailers, is excited to share their ambitious United States’ expansion plans for 2023 following a successful 2022 launch of Clip’s first-to-market multi bank cash deposit network.
The ClipDrop cash deposit solution is now installed at over 325 US locations across 34 States, with customer interest, registration and usage rising exponentially. During the fourth quarter of 2022, Clip transactions grew by over 336% compared to the prior quarter.
“Clip deposit adoption in the US is growing at a rapid rate and it’s incredibly satisfying to see so many American businesses save time, money, and improve their cash flow through our novel solution,” said Joseph Arrage, Clip founder and CEO.
The Clip network is bank-agnostic, meaning any businesses can make deposits to any existing bank account in convenient, accessible locations via a ClipDrop. Deposits can be made any time during store business hours by designated business employees. Clip customers are also provided with powerful technology through the ClipApp to manage their cash, assign employees to perform deposit transactions, track transaction history, and collect cash and payment analytics. Retailers receive next business day credit for their deposits which improves cash flow.
ClipDrops are installed in high-density retail locations including major malls owned by Simon® and are also available in select Staples retail stores. Through 2023, Clip is accelerating expansion plans across existing locations that can enable deposit access across urban, suburban and rural communities. Clip will also be announcing new deployment locations in 2023 in the convenience store segment, further improving accessibility for business.
Arrage continued: “In 2023, we will be announcing a wide range of partnerships with businesses of all sizes, some of which are in America’s busiest shopping centers, and others in beloved, local, small business retail locations. It is our belief that all businesses should have access to a cash solution that supports their staff and individual business objectives.”
Current US Clip user, Erik Cruz, Senior Field Operations & Implementation Manager for Invicta Stores, discusses his experience: “Clip is a massive time-saver. Depositing cash at a ClipDrop on premise opposed to going to a bank branch means our staff can remain in-store to help Invicta customers select the best watches for themselves or loved ones. Being able to track deposits streamlines our accounting efforts as well; having that time back to focus on our customers this holiday season was a gift.”
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