PayPal accepts coins and paper currency at Coinstar kiosks

The partnership allows PayPal customers to use Coinstar kiosks to deposit and withdraw cash

A PayPal alliance with Coinstar is being expanded to some parts of the U.S., allowing customers to deposit, withdraw and transfer funds to PayPal accounts through Coinstar kiosks.

After a trial which started in 2011 in the Dallas metropolitan area, the program is being extended this month to Texas, Northern California and Ohio, with more outlets to be added during the year. Customers can add coins and paper currency to their PayPal account through the kiosks, and also withdraw cash from their accounts, Coinstar said.

The rollout is part of PayPal's bid to play a role in brick-and-mortar retail in addition to its significant presence in online payments. The payments processor said it had lined up 23 national retailers last year that would accept payments using PayPal in their stores. Customers can make payments using a PayPal payment card that is accepted at participating stores, or by using their mobile number and a PIN (personal identification number).

The PayPal enabled Coinstar kiosk is another example of how the payment processor is bringing convenience and security to consumers "not just online but everywhere in today's multi-channel shopping environment," wrote Dan Schatt, head of financial innovations at PayPal, in a blog post.

Coinstar runs a network of self-service coin-counting kiosks in the U.S., Canada, and some parts of Europe.

Customers can add up to US$500 using coins and paper money to a PayPal account each calendar month, while withdrawals are limited to $500 in a calendar month and $200 per day, Coinstar said. Coinstar's coin-counting fee of 9.8 percent applies when coins are added to a PayPal account. For adding paper money, a $3 fee applies for transactions up to $300 and a $6 fee for transactions over that amount. Each withdrawal incurs a $3 fee, and the user is issued a voucher to be redeemed in store.

Coinstar and PayPal have reported strong interest in the new service. The companies conducted a test of the new service in Dallas last year, and found 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.

John Ribeiro covers outsourcing and general technology breaking news from India for The IDG News Service. Follow John on Twitter at @Johnribeiro. John's e-mail address is john_ribeiro@idg.com

Join the Good Gear Guide newsletter!

Error: Please check your email address.

Tags Internet-based applications and servicesCoinstare-commercepaypalinternet

Our Back to Business guide highlights the best products for you to boost your productivity at home, on the road, at the office, or in the classroom.

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

John Ribeiro

IDG News Service
Show Comments

Essentials

Microsoft L5V-00027 Sculpt Ergonomic Keyboard Desktop

Learn more >

Lexar® JumpDrive® S57 USB 3.0 flash drive

Learn more >

Mobile

Lexar® JumpDrive® S45 USB 3.0 flash drive 

Learn more >

Exec

HD Pan/Tilt Wi-Fi Camera with Night Vision NC450

Learn more >

Lexar® Professional 1800x microSDHC™/microSDXC™ UHS-II cards 

Learn more >

Lexar® JumpDrive® C20c USB Type-C flash drive 

Learn more >

Audio-Technica ATH-ANC70 Noise Cancelling Headphones

Learn more >

Budget

Back To Business Guide

Click for more ›

Most Popular Reviews

Latest News Articles

Resources

PCW Evaluation Team

Michael Hargreaves

Windows 10 for Business / Dell XPS 13

I’d happily recommend this touchscreen laptop and Windows 10 as a great way to get serious work done at a desk or on the road.

Aysha Strobbe

Windows 10 / HP Spectre x360

Ultimately, I think the Windows 10 environment is excellent for me as it caters for so many different uses. The inclusion of the Xbox app is also great for when you need some downtime too!

Mark Escubio

Windows 10 / Lenovo Yoga 910

For me, the Xbox Play Anywhere is a great new feature as it allows you to play your current Xbox games with higher resolutions and better graphics without forking out extra cash for another copy. Although available titles are still scarce, but I’m sure it will grow in time.

Kathy Cassidy

STYLISTIC Q702

First impression on unpacking the Q702 test unit was the solid feel and clean, minimalist styling.

Anthony Grifoni

STYLISTIC Q572

For work use, Microsoft Word and Excel programs pre-installed on the device are adequate for preparing short documents.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?