BOSTON, Aug. 01, 2023 (GLOBE NEWSWIRE) -- Clip Money, Inc. (“Clip”) (TSXV:CLIP) (OTCQB:CLPMF), a leading fintech that brings convenient, cost-effective cash management services to retailers, announced an agreement with Spinoso Real Estate Group, ("SREG"), a privately held New York-based real estate firm specializing in the management and leasing of large-scale enclosed shopping malls across the USA, to install a network of ClipDrop deposit boxes across a select group of properties in their enclosed shopping center portfolio.
The network of ClipDrops are free-standing, secure, self-service boxes where retailers can quickly and safely deposit cash. Clip is currently located in over 370 shopping centers across Canada and the United States, and select Staples stores in the U.S. Clip will be adding over 10 malls managed by SREG to support over 1000 retail tenants.
“Both our retailers and property management group view our collaboration with Clip as a valuable addition to our centers. We’re always looking for innovative ways to support our retailers by providing solutions that help them operate more efficiently. We are confident that Clip will bring significant cost and time savings to the businesses operating in and around our enclosed shopping malls”. said Bryan Calkin, VP Specialty Leasing for SREG.
Clip enables businesses to streamline their deposit process by digitizing and automating their cash handling operations without fixed monthly fees or long-term contracts. Clip supports fast and convenient deposits for any retailer into any bank account through Clip deposit locations. Store employees perform transactions through an intuitive app while an enterprise dashboard creates transparency and simplicity of cash deposits for retailers’ back-office operations. Clip also provides next business day credit for deposits, which creates improved cash flow, which is always appreciated by retailers.
"We are thrilled to partner with SREG who has warmly welcomed our innovative cash management solution," said Joseph Arrage, CEO of Clip. "By automating cash management processes, minimizing cash-handling errors, and ultimately optimizing cash flow, I am confident our solution will support their retailers accounting, operations, and loss prevention objectives and enable a great experience across all functions while delivering significant cost savings. We look forward to continuing our expansion in their portfolio of malls across the U.S."
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, Brookfield Properties, BentallGreenOak (BGO), Simon®, Lids, Invicta, Parkland, national fuel distributor, with additional announcements pending.
Joseph Arrage
Chief Executive Officer
IR@clipmoney.com
tel: 844-593-2547
