Clip Money was named Best CashTech Startup at the CashTech Innovation Awards, which took place at the Future of Cash Conference in Madrid, Spain.
Based in Toronto, Clip is a “first-to-market cash deposit solution that brings fast, convenient, cost-effective financial services transactions to business customers.”
The reduction in bank cash infrastructure—branches, ATMs, and cash centres—is “a significant challenge for businesses globally that requires modern, technology driven solutions,” according to Clip.
The CashTech Innovation Awards were set up by independent think-tank CashEssentials to recognize innovations that facilitate access to and acceptance of cash.
According to the CashEssentials Steering Committee, they sought nominations from “innovative companies who leverage software and modern communications technology to improve cash services—including access for consumers and businesses; facilitating the acceptance of cash by retailers across all channels; and enhancing the overall efficiency, resilience and sustainability of cash.”
“At Clip, we are passionate about revolutionizing the cash ecosystem for businesses,” stated Clip CEO Joseph Arrage. “We remain dedicated to building an accessible and convenient network to ensure there is a reliable, affordable solution and sustainable future for cash transactions worldwide.”
The company achieves this through strategic partnerships such as a recent one with Staples.
The Future of Cash Conference is held annually, and is attended by central banks, commercial banks, and organization delegates from more than 20 countries who represent a broad cross-section of cash cycle stakeholders.
Clip debuted on the TSX Venture Exchange under the ticker symbol CLIP in May.
“The listing of our shares on the TSX Venture Exchange is an important milestone in our growth as a company,” Arrage stated last month. “This is a significant step that will assist us in achieving our mission to provide improved banking services for businesses across Canada.”