Coinstar Turns Loose Change into Gift Cards
Taking that jar of loose coins to the local market to drop into a self-service coin-counting machine will soon get a little more interesting. Instead of getting a receipt to take to the cashier to get cash, a gift card can be requested instead.
The Coin to Card model, by Coinstar, Inc., was first tested at Starbucks in Seattle, Las Vegas and Philadelphia. Based on the results, the program will be expanded this spring and rolled out to the Coinstar network across the county within the next two to three years, Coinstar said.
In addition to Starbucks gift cards, Hollywood Video as well as others will be added to the kiosk in such categories as books, movies, apparel, restaurants and home improvement.
The kiosks, typically located at the front of participating supermarkets, will allow the customer to choose from up to three retail gift cards or a branded gift card from the supermarket.
Bellevue, WA-based Coinstar, which develops, owns and operates a network of automated, self-service coin counting and processing machines, said that an estimated 80% of Americans save up loose change, but that only 58% choose to cash the coins in.
