Clip Money is a multi-bank cash deposit network in North America, enabling businesses 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 centres across the United States, complementing the current ClipDrop network of 400 locations. The expanded network will provide a large portion of US business convenient access to Clip services allowing businesses to manage cash efficiently regardless of the branch presence of their bank or credit union of choice.
Officials from NCR said that access to their ATM network and cardless cash management API will expand merchant’s access to Clip Money cash deposits endpoints. 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.
Also commenting on this development, Clip’s representatives said this partnership with NCR seamlessly complements their existing deposit network, which is primarily situated within shopping malls and prominent big box retailers. 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.
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.
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.
The company combines functional hardware, an intuitive user app and an innovative cloud-based transaction engine that efficiently processes business banking transactions. It offers a cost-effective and convenient solution for business banking deposits across major markets in Canada and the US.
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