BOSTON, May 08, 2024 (GLOBE NEWSWIRE) — Clip Money, Inc. (“Clip”) (TSXV:CLIP) (OTCQB:CLPMF), a leading provider of end-to-end cash management for businesses, today announced a partnership with The Michaels Group (“company”), a prominent franchise owner group of Pandora Jewelry with locations across Connecticut, New York, New Jersey, Arizona, and New Mexico.
The Michaels Group boasts a five-generation legacy in the jewelry industry. Seeking a more efficient management platform, the Michaels Group selected Clip’s innovative cash platform to achieve a 45% reduction in monthly costs, which is projected to amount to $2,500 in savings per year for each store.
“We were faced with several challenges with our legacy armored carrier process including rising annual fees, long-term contracts and a degradation of reliability,” said Jackie Cassidy, Controller at The Michaels Group. “We wanted a modern, flexible approach to deposit cash and receive change orders on location that helped our associates remain onsite servicing customers while achieving our cost reduction goals. Clip was able to help us accomplish both objectives.”
“Through Clip’s innovative solutions, we deliver tangible advantages over antiquated systems and service options for cash management. With the rising costs and declining reliability of armored carrier services, coupled with the shrinking access of bank branch cash services, our value proposition becomes even more compelling. Clip’s aim is clear: to partner with companies like the Michaels Group, propelling efficiency with our modern solutions while dramatically improving user experiences,” said Joseph Arrage, CEO and co-founder of Clip.
About Clip Money Inc.
Clip operates a multi-bank, self-service deposit system for businesses through its network of ClipDrop Boxes and Clip-enabled ATMs. Rather than going to their personal bank branch or using an armored carrier service, businesses can deposit their cash at any ClipDrop or ATM located nearby at top retailers and shopping malls. Deposited funds are automatically credited to the business’ bank account, usually within 1 business day. The company combines functional hardware, an intuitive mobile app, and an innovative cloud-based transaction engine that maximizes business banking transactions. Clip also facilitates mobile change orders, which are fully-insured and shipped within 1-2 business days. 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
LinkedIn: https://www.linkedin.com/company/clipmoney
For further information, please contact:
Joseph Arrage
Chief Executive Officer
tel: 844-593-2547
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