PayPal and Coinstar: A Stellar Payment Relationship

    May 17, 2012
    Shawn Hess
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Dan Schatt, Head of Financial Innovations at PayPal wants to let consumers know they are “thinking outside the phone”. It sounds kind of corny, but what he’s actually referring to is payment innovations beyond just what benefits smartphone users. Come on folks, only half of mobile subscribers even have a smartphone so it makes sense not to box yourself into the mobile payment movement just yet.

PayPal has been trying out a partnership with Coinstar in the Dallas, Texas area. I know it seems like an unlikely pair, but in reality it makes a lot of cents (sorry, my own corny humor). If you’ve ever used Coinstar to count your loose change you know that you can forego some of the fees involved if you transform your return into some variety of gift card. If I remember correctly some of the options include Starbucks and Amazon.Com.

Presently, if you live in the Dallas area, you can add your coins to your PayPal account or request funds from your account using the Coinstar kiosk. I think this is a fantastic idea, it brings together two unique services that are already innovative in their own right (Coinstar and PayPal). The downside is it can only happen in Dallas right now, but I’ll bet we can expect an expansion on that as 2012 unfolds. We will keep you updated.

  • http://forums.auctionbytes.com/vbulletin/showthread.php?t=24611 Philip Cohen

    What’s this? More nonsense directly from the eBay Dept of Spin! Who would want to physically put money into a clunky, non FDIC-insured, PreyPal faux “bank” account?

    Read about it and weep, John Donahoe …

    In addition to Visa’s V.me, there is now MasterCard’s PayPass digital wallet soon to arrive; another perfectly logical extension to the real banks’ traditional, professional, payment processing systems (and you don’t have to ditch the plastic) …

    Goodbye clunky PreyPal, I can’t say that it has been nice knowing you …

    “When Do We Start Calling eBay A [Failed] Payments Company?”


    And, just for a laugh then, some comment on PayPal’s off-eBay products: “The New Way To Pay In-Store” (at Home Depot), PayPal Here, SmartPay, PayPal Digital Wallet, PayPal Debit MasterCard, PayPal Local and Watch With eBay …


    eBay / PayPal / Donahoe: Dead Men Walking