Clip Money, Inc., a first-to-market cash deposit solution that brings convenient, cost-effective financial services to business customers, announced a partnership agreement with BentallGreenOak (BGO) for select retail properties in Canada.

As part of the agreement, Clip Money has set up a network of ClipDrops, which are free-standing, secure, self-service boxes located in malls and at large retailers where business customers can quickly and safely deposit cash revenue. ClipDrops are currently located at Canadian mall locations within BGO-managed properties including:

• The Tenor (10 Dundas), Toronto, Ontario
• The Pen Centre, St. Catharines, Ontario
• White Oaks Mall, London, Ontario
• Village Green, St. Vernon, British Columbia
• Eglinton Square, Scarborough, Ontario
• Scottsdale Centre, Delta, British Columbia

“We are pleased to partner with BGO and offer their valued retail tenants the opportunity to save time and money with our technology-driven banking solutions,” said Joseph Arrage, Clip founder and CEO. “Cash deposits don't have to be expensive and inconvenient for small and mid-sized businesses. At Clip, we're lowering costs, expanding access, and simplifying banking for retail clients all across Canada.”

The Clip solution is bank-agnostic, so businesses can make their everyday deposits to existing bank accounts in more convenient, accessible locations via a ClipDrop. Deposits can be made at any time during extended retail hours by designated business employees. Clip customers are provided powerful technology through ClipApp to manage their cash, assign employees to perform banking transactions, track transaction history, collect analytics, and manage personnel. Customers also receive next business day credit for their deposits which improve cash flow. Existing customers have reported saving hundreds of dollars per month per store in staff costs related to the time it takes to travel and deposit at a bank, savings which retailers admit are welcomed given current staffing and resource challenges that they are facing.

Arrage continued: “Partnering with a distinguished group like BentallGreenOak marks an important step as we continue to strategically expand the Clip network to a larger base of North American businesses. As such, we have the ability to enable retailers to get cash into their accounts faster and save employees time by eliminating the journey to a traditional bank branch.”