Invicta selects Clip Money (TSXV:CLIP) to manage business deposits

Clip Money (CLIP) has onboarded Invicta Stores, which will use Clip to manage cash deposits Invicta is a leading retailer of innovative, luxury, and accessible timepieces Clip Money is an infrastructure-enabled Fintech that provides the fastest and easiest way for businesses to make deposits Clip Money Inc. (CLIP) opened trading at C$ 0.47 per share

Clip Money (CLIP) has onboarded Invicta Stores, which will use Clip to manage cash deposits.

Invicta is a leading retailer of innovative, luxury, and accessible timepieces. The company joins a number of other U.S. retailers who have adopted the Clip solution. Presently, Clip is in over 300 US locations across 34 States.

Invicta is using the Clip solution across multiple stores and plans to roll out the solution to additional stores in Q1 2023. The stores utilizing Clip can make cash deposits to their existing bank account at convenient ClipDrop locations instead of going to their bank branch to manage cash.

The stores can make deposits anytime during retail business hours by designated employees. As a Clip customer, Invicta has access to powerful technology through the ClipApp to manage their cash. It can assign employees to perform deposit transactions, track transaction history, and collect cash and payment analytics. They also receive next business day credit for their deposits, improving cash flow and saving time and resources.

Joseph Arrage, co-founder and CEO of Clip, commented on the news.

“Retailers in the jewelry and accessory space need staff to focus their time on customer service. However, that’s impossible with an inefficient, outdated system that takes staff away from the customer for banking tasks. We are honoured that a brand like Invicta, who has been trusted by consumers for nearly two centuries, has entrusted their cash management to Clip.”

Clip receives regular interest from jewelry and accessory retailers as they tend to face unique challenges related to cash management.

Clip Money is an infrastructure-enabled Fintech that provides the fastest and easiest way for businesses to make deposits. It allows users to make deposits outside of their bank branches at top retailers and shopping malls through ClipDrop Boxes.

Clip Money Inc. (CLIP) opened trading at C$ 0.47 per share.

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Invicta selects Clip Money (TSXV:CLIP) to manage business deposits