New Coinstar Services for Convenience Stores

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New Coinstar Services for Convenience Stores

Coinstar's financial services kiosk offers consumers a number of stored value products aimed at creating traffic and increased revenue for convenience stores that host the kiosks.

"Banks and credit unions are increasingly integrating stored value products into the branch to distinguish themselves from other financial institutions," said Steve Verleye, senior vice president and general manager of Coinstar's e-payment services. "In addition, our turnkey, no hassle service that we've been providing to retailers for years is helping financial institutions free up valuable staff time so that they can focus on building customer relationships and cross-selling."

The company's kiosk is a "one-stop" location for customers to purchase store value products including gift cards, wireless and long distance products, in addition to prepaid debit cards. The kiosks accept bills, debit and credit cards for payment of the stored value products. The kiosks also feature the ability to dispense custom stored value products, such as the retailer's own gift or debit card products. The networked kiosk has a footprint of four square feet and will be available in early 2007.

The kiosks do not take up inventory or labor costs upfront. The service includes installation, merchandising, maintenance, scheduled pick-ups and account reporting. Graphics and colors can be tailored to fit existing designs.