Coinstar rolling out kiosks with PayPal integration
Starting this month, Coinstar users in California, Ohio and Texas can use the coin-counting kiosks to add money to, or withdraw money from, their PayPal account — a move that the company said furthers the convergence of brick-and-mortar and online shopping.
Coinstar and PayPal conducted a test of the new service in the Dallas metropolitan area last year and quickly saw adoption and interest from users. Initial test results revealed that 40 percent of kiosk users who used the PayPal feature went back to use PayPal on a Coinstar kiosk an average of two times a month.
Customers can add up to $500 using coins and paper money to a PayPal account each calendar month, the announcement said. In addition, money can be transferred from one user's PayPal account to another.
"PayPal on Coinstar exemplifies how we continue to empower consumers to change what they have into what they want," said Mike Skinner, president of Coinstar's Coin business. "From the convenience of a grocery store, consumers can turn their coins and paper currency into digital spending power anywhere PayPal is accepted."
"We're delighted to work with Coinstar to enable our users to transact anytime, anywhere and in any way," said Dan Schatt, head of financial innovations at PayPal. "PayPal on Coinstar kiosks provide customers with a convenient way to add coins and paper currency to their PayPal account and spend their money anywhere PayPal is accepted."
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