Clip Money Announces Rapid Customer Adoption of its Cash and Change Delivery Service

Rhea-AI Summary

Clip Money reports significant adoption of its ClipChange cash and change delivery service, delivering over 3,000 change orders valued at more than $1 million USD since its launch earlier this year. The service is currently utilized by more than 650 stores across retail and hospitality segments.

ClipChange is an insured delivery service that modernizes cash management processes, building upon Clip's existing ClipDrop and ClipATM services. The platform allows businesses to order pre-packaged coins and banknotes with tracking capabilities, eliminating the need for branch visits and armored carriers. Through the Clip Money Cashboard, businesses can track orders and manage cash status efficiently.

Notable clients using Clip Money's services include Lids, Miss A, Torrid, and International Restaurant Management Group.

Positive

• Delivered over 3,000 change orders worth $1M+ USD
• Rapid adoption with 650+ stores currently using the service
• Expanding service portfolio with addition of ClipChange to existing ClipDrop and ClipATM services
• Notable client base including major retail chains

Negative

• None.

With Strong Demand for Modern Cash Management, Clip Money Delivers Thousands of Change Orders for Retailers and Restaurants

ATLANTA, Dec. 11, 2024 (GLOBE NEWSWIRE) -- Clip Money, Inc. (“Clip”) (TSXV:CLIP) (OTCQB:CLPMF), North America’s only non-bank shared cash deposit network for businesses, today announced the accelerated adoption of its insured cash change order delivery service, ClipChange.

Since the launch of ClipChange earlier this year, a portion of Clip Money’s existing customer base has adopted the service. The company has already delivered more than 3,000 change orders with a value greater than $1 million USD, for its customers across retail and hospitality segments. ClipChange is currently being used by more than 650 stores.

“The speed at which our customers have adopted our change delivery service is strong validation that our modern approach to business cash management is providing significant value,” said Brian Bailey, President of Clip Money. “ClipChange is extremely convenient and the first solution to give businesses visibility into and control over their change order process. With ClipChange, managers can create greater efficiency while keeping employees on-site and focused on their top priorities like supporting customers in-store.”

ClipChange is an insured change order delivery service that modernizes antiquated cash management processes that businesses have had to rely on for decades. The service builds on Clip Money's flagship cash deposit services, ClipDrop and ClipATM, and allows businesses to select from pre-packaged values of coins and banknotes and track packages through insured delivery.

The coin and banknote delivery service further eliminates the need for branch visits and armored carriers, as change orders are delivered in-store, keeping employees on-site servicing customers. Ordering and enhanced tracking is available in the Clip Money Cashboard, providing complete visibility into cash status. With a full view, businesses can create more effective plans that improve team member productivity, increase overall efficiency, and reduce change fees.

Clip Money is committed to simplifying and streamlining the cash management process for businesses of all sizes. Combining advanced technology combined with its innovative shared network, Clip Money creates significant value for businesses, banks, and financial institutions. Clip Money is driving convenience, transparency, and efficiency for businesses nationwide including Lids, Miss A, Torrid, and International Restaurant Management Group (IRMG).

About Clip Money Inc.
Clip Money operates the industry’s only multi-bank, self-service cash deposit system for businesses. A modern alternative to dedicated bank branch deposits and hired armored carrier services, Clip Money allows businesses to quickly and easily deposit cash at any ClipDrop box or Clip-enabled ATM, conveniently located at top retailers and shopping malls. Deposited funds are automatically credited to the business’ bank account. The company combines functional hardware, an intuitive mobile app, and an innovative cloud-based transaction engine that maximizes business banking transactions. The company also delivers fully insured mobile change orders. Clip Money offers a unique cost-effective, time saving, and convenient solution for business banking deposits across Canada and the United States. For more information, visit www.clipmoney.com, and for a full list of locations, visit https://clipmoney.com/locations.

Media contact:
Christy Kemp
Angle42 for Clip Money
christykemp@angle42.co

FAQ

How many change orders has Clip Money (CLPMF) processed through ClipChange service?

Clip Money has processed over 3,000 change orders with a total value exceeding $1 million USD since launching ClipChange earlier this year.

How many stores are currently using Clip Money's ClipChange service?

More than 650 stores across retail and hospitality segments are currently using the ClipChange service.

What major retailers are using Clip Money's (CLPMF) services?

Notable retailers using Clip Money's services include Lids, Miss A, Torrid, and International Restaurant Management Group (IRMG).

What services does Clip Money (CLPMF) offer for cash management?

Clip Money offers ClipChange for cash and change delivery, ClipDrop and ClipATM for cash deposits, all managed through their Clip Money Cashboard platform.