by Christopher Freeburn | February 27, 2013 11:28 am
Users of Coinstar‘s (NASDAQ:CSTR) coin-counting kiosks will soon be able to access their PayPal accounts through the machines.
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), 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, including RadioShack (NYSE:RSH), Dollar General (NYSE:DG) and Famous Footwear (NYSE:BWS).
Shares of eBay rose fractionally in Wednesday trading, while Coinstar slipped slightly.
Source URL: http://investorplace.com/2013/02/coinstar-adds-new-paypal-feature-to-kiosks/
Short URL: http://invstplc.com/1frZ5ja
Copyright ©2017 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.