Clip Money Inc. a first-to-market cash deposit solution that provides a secure, dependable, and safe banking technology to business customers today announced a strategic collaboration with Simon, a premier innovator in global retail destinations.
Under the agreement, the business has set up a network of ClipDrops, to make deposits quicker, easier, and secure through a national network of drop box locations in malls, grocery chains and big box stores. It is currently located in 130 Simon centres, with added sections to be installed this year, including premier properties such as King of Prussia, Sawgrass Mills, The Galleria and Roosevelt Field and Del Amo Fashion Centre.
The retailer businesses are the pulsation for today’s economy, thus offering access to simple, inexpensive, and straightforward financial solutions that simplify cash transactions is a fundamental necessity, said Joseph Arrage, founder, and CEO of Clip.
The Clip solution is bank-agnostic, so businesses can make their routine deposits in more accessible, in user-friendly locations through ClipDrop, directly to their existing bank account.
Deposits can be made any time of the day during extended retail hours by authorized personnel. Users are offered powerful digital tools and technology through ClipApp to manage their cash, assign people to operate financial transactions, track transaction history, collect revenue analytics, and manage human resources.
Users also obtain next business day credit for their deposits, which can enhance cash flow. Active Clip users have described saving hundreds of dollars per month in staff costs associated to the time it takes to travel and deposit at a bank, per store. This translates to savings which retailers concede is a welcome respite given current staffing and resource challenges faced, and the continued reduction of retail bank branches across the U.S.
Arrage added that this partnership celebrates a significant milestone for Clip in their mission to revolutionize the cash ecosystem to best serve the needs of businesses today with their strategies to expand Clip access to more than 160 of Simon locations which has comprehended well with the plan of expansion.
About Clip Money Inc.
An infrastructure enabled fintech that offers the quickest and easiest way for businesses to make deposits securely to their current business bank account through a nationwide network of smart drop box located in malls, big box stores, and grocery chains. Clip augments the business deposit knowledge through transformational digital and mobile enabled platform services.
About Simon
Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and all-purpose destinations and an S&P 100 business. Their properties are spread across Asia, Europe and North America that offer community gathering spaces for millions of people every day and generate billions in annual sales.