NCR Announces Transformational Partnership and Investment in Clip Money
27 9월 2023 - 9:00PM
Business Wire
Cardless Business Deposits Enabled Coast to
Coast Serving Issuers and Merchants
NCR Corporation (NYSE: NCR), a leading enterprise technology
provider, today announced a strategic investment in Clip Money Inc.
(TSXV: CLIP) (OTCQB: CLPMF) and has established a long-term,
firmware exclusive, commercial collaboration that will combine
Clip's pioneering business cash deposit solution with NCR’s
cardless cash deposit API and cash in network.
This partnership accelerates Clip's market expansion while
enriching the value proposition of NCR’s cash management solutions
for issuers and merchants. The combined solution will create value
for financial institutions that want to provide businesses with
convenient cash deposit options and reduce demand on branches, as
well as for merchants who will have a safe, easy way to manage
their excess cash at the end of a shift, without managing card
portfolios.
Clip Money is the only multi-bank cash deposit network in North
America focused on businesses and driven by APIs, enabling any
business to make cash deposits into their bank account of choice
through Clip’s network without integration at the bank itself. NCR
will enable Clip deposit services at its premier cash in network
with more than 2,500 operating sites across 30 states serving more
than 70 of the largest population centers across the United States,
complementing the current ClipDrop network of nearly 400 locations.
The expanded network will provide a large portion of U.S. business
convenient access to Clip services allowing businesses to manage
cash more efficiently regardless of the branch presence of their
bank or credit union of choice.
“Access to NCR’s ATM network and cardless cash management API
will significantly expand merchant’s access to Clip Money cash
deposits endpoints,” said Stuart MacKinnon, EVP, ATM Group, NCR.
“These endpoints are located at some of the largest retailers in
the country and demonstrate the power of NCR networks to bridge the
digital and physical worlds.”
“This partnership with NCR seamlessly complements Clip's
existing deposit network, which is primarily situated within
shopping malls and prominent big box retailers,” said Joseph
Arrage, CEO, Clip. “NCR’s global market presence will provide Clip
with an immediate growth platform within North America, as well as
the potential to explore international market opportunities that
require business deposit transformation.”
About NCR Corporation
NCR Corporation (NYSE: NCR) is a leader in transforming,
connecting and running technology platforms for self-directed
banking, stores and restaurants. NCR is headquartered in Atlanta,
Georgia, with 35,000 employees globally. NCR is a trademark of NCR
Corporation in the United States and other countries.
Web site: www.ncr.com Twitter: @NCRCorporation Facebook:
www.facebook.com/ncrcorp LinkedIn:
www.linkedin.com/company/ncr-corporation YouTube:
www.youtube.com/user/ncrcorporation
About Clip Money Inc.
Clip Money operates a multi-bank self-service deposit system for
businesses through its ClipDrop Boxes and ATMs that provides
businesses with the capability of making deposits outside of their
bank branch. Deposits can be made at top retailers and shopping
malls rather than having to go to a local bank branch or using a
cash pickup service. Clips conveniently located ClipDrops or Clip
enabled ATMs serve as cash deposit locations, facilitating next
business day credit into a business account. Clip combines
functional hardware, an intuitive user app and an innovative
cloud-based transaction engine that efficiently processes business
banking transactions. 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.
Web Site: www.clipmoney.com LinkedIn:
https://www.linkedin.com/company/clipmoney
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version on businesswire.com: https://www.businesswire.com/news/home/20230927091840/en/
NCR Media Contact: Scott Sykes NCR Corporation
scott.sykes@ncr.com
Clip Money Contact: Joseph Arrage Chief Executive Officer
tel: 844-593-2547
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