Coinstar launches PayPal functionality on select kiosks

Bellevue, Wash. -- Coinstar has announced a new feature available at some Coinstar kiosks that enables consumers to deposit or withdraw funds from their PayPal accounts, as well as send money to another PayPal account.



The rollout began in February in Texas, Northern California, and Ohio, and will continue at select kiosks throughout the year, said the company.



The feature was test-piloted by Coinstar and PayPal in the Dallas metropolitan area in 2012. Initial test results revealed that 40% of kiosk users who used the PayPal feature went back to use PayPal on a Coinstar kiosk an average of two times a month.



“PayPal on Coinstar kiosks provide customers with a convenient way to add coins and paper currency to their PayPal account and spend their money anywhere PayPal is accepted,” said Dan Schatt, head of Financial Innovations at PayPal.