Coinstar Adds New PayPal Feature to Kiosks

by Christopher Freeburn | February 27, 2013 11:28 am

Coinstar Adds New PayPal Feature to Kiosks

PayPalPromo Coinstar Adds New PayPal Feature to Kiosks[1]Users of Coinstar‘s (NASDAQ:CSTR[2]) coin-counting kiosks will soon be able to access their PayPal accounts through the machines[3].

The first kiosks with PayPal functionality will appear in Ohio, Northern California and Texas, allowing users to add or withdraw funds from their online accounts, TechCrunch notes. Additionally, users can send funds to other PayPal accounts through the kiosks.

PayPal, which is a division of eBay (NASDAQ:EBAY[4]), is attempting to expand its payment system to cover brick-and-mortar transactions. Coinstar first introduced kiosks with PayPal functionality to kiosks in Dallas supermarkets last year.

The feature was a success. 40% of people who used the PayPal feature became repeat visitors to the kiosks.

Last month, PayPal announced that its payment system would be accepted at seven more nationwide retailers[5], including RadioShack (NYSE:RSH[6]), Dollar General (NYSE:DG[7]) and Famous Footwear (NYSE:BWS[8]).

Shares of eBay rose fractionally in Wednesday trading, while Coinstar slipped slightly.

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2012/08/PayPalPromo.jpg
  2. CSTR: http://studio-5.financialcontent.com/investplace/quote?Symbol=CSTR
  3. access their PayPal accounts through the machines: http://techcrunch.com/2013/02/27/coinstar-expands-rollout-of-its-paypal-powered-coin-counting-kiosks/
  4. EBAY: http://studio-5.financialcontent.com/investplace/quote?Symbol=EBAY
  5. payment system would be accepted at seven more nationwide retailers: http://investorplace.com/2013/01/paypal-adds-7-new-bricks-and-mortar-retailers/
  6. RSH: http://studio-5.financialcontent.com/investplace/quote?Symbol=RSH
  7. DG: http://studio-5.financialcontent.com/investplace/quote?Symbol=DG
  8. BWS: http://studio-5.financialcontent.com/investplace/quote?Symbol=BWS

Source URL: http://investorplace.com/2013/02/coinstar-adds-new-paypal-feature-to-kiosks/
Short URL: http://invstplc.com/1frZ5ja