Lids Adopts Clip Money for Cash Deposit Services

May 30, 2023

BOSTON, May 30, 2023 (GLOBE NEWSWIRE) -- Clip Money, Inc. (“Clip”) (TSXV:CLIP) (OTCQB:CLPMF), a leading fintech that brings convenient, cost-effective cash management services to retailers, has been selected by Lids, a premier multinational sports retailer, as a cash deposit solution.

Lids, the leader of headwear, apparel, and accessories for sports fans of all ages with over 1,100 locations throughout North America, is a desired brand in the retail industry. To better manage its cash flow and drive efficiencies in its cash management operations, Lids has chosen Clip to provide a secure and efficient cash deposit solution.

"We are thrilled to partner with a leading brand like Lids and provide them with 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 Lids’ accounting, operations, and loss prevention objectives and enable a great experience across all functions. We look forward to servicing the over 300 Lids stores within our current network footprint which will grow as our network grows."

Clip's solution enables businesses like Lids to streamline their deposit process by digitizing and automating their cash handling operations. Clip supports fast and convenient deposits for any retailer into any bank account through Clip deposit locations which are located at leading shopping malls, big box retailers and other convenient 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 retailers next business day credit for deposits, which creates improved cash flow, always a welcomed feature for today’s retailers.

Brogan Butz, Cash Management Manager at Lids, explains why they like using Clip: "Clip enables our stores and head office team to streamline cash operations with visibility and accountability throughout the entire deposit process in real-time, while significantly reducing direct and indirect costs. Now our store managers and employees can focus more on our valued Lids customers.”

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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®, Invicta, Parkland, national fuel distributor, with additional announcements pending.

Joseph Arrage
Chief Executive Officer
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