Coinstar’s evolution reflects a shift in financial infrastructure, where physical currency isn’t sidelined but integrated into modern, inclusive systems that respect consumer choice and reimagine access.
Kevin, Coinstar has been a household name for years. While many recognize it for coin counting, how has the company’s mission evolved over time?
Coinstar’s core business has been coin counting over the last 30 years, but as the company evaluated its strengths – our great brand, strong relationship with retailers, large footprint and loyal customers – the team recognized an opportunity to continue building onto the kiosk business, and going beyond to offer financial empowerment in efficient and accessible ways. Today, Coinstar has around 25,000 kiosks in eight different countries, and we’ve expanded into other financial services building on our strengths to provide consumers with the financial services they seek. This includes the ability digitize your physical cash by loading to a prepaid account, or directly to a bank account.
We continue to focus on financial empowerment and literacy, offering cash-preferred and cash-dependent consumers the necessary opportunity to transact and manage money digitally.
Cash usage patterns have shifted significantly in the digital age. Is Coinstar still primarily focused on the cash-preferred audience, or has the company broadened its scope?
It’s important to callout that cash transactions per capita remains relatively flat. Americans who prefer or need to use cash are still using cash, but are being excluded from everyday activities such as shopping online, going to cashless event venues or even at some restaurants. This remains our key audience, serving 25M U.S. households, and it’s why we continue to expand our payment solutions to provide an avenue for our customers to maximize the value of their money by offering new and innovative options to unlock its potential, including expanding access to the digital economy. For example, our recently launched digital wallet CINQ by Coinstar™ allows cash and coins to move and transact more seamlessly in the digital world. Through a partnership with Zero Hash, CINQ by Coinstar™ launched with the ability to purchase cryptocurrency and stablecoins with cash at more than 5,500 Coinstar® kiosks across the U.S. and on its mobile app.
Consumer expectations around financial services are rapidly changing. How is Coinstar innovating to meet these evolving needs, and where does CINQ by Coinstar™ fit into this transformation?
Coinstar caters to the millions of cash-preferred customers who have traditionally been underserved. While many companies feel pressure to cave to digital adoption, we must also continue to create flexible options that expand financial opportunities while respecting consumer preferences. Choice is paramount. We’re seeing innovative solutions emerge that break down barriers between traditional financial habits and digital capabilities, ensuring no one is left behind in the financial evolution.
CINQ by Coinstar™ marks the onset of Coinstar’s digital transformation journey to provide customers with expanded access and choice to digitize or manage their physical currency through on-kiosk or in-app options.
Despite the push toward digital finance, cash remains an important part of the economy. How does Coinstar balance physical and digital offerings to ensure accessibility for all consumers?
It’s been estimated there’s $7.7 billion in spare change sitting idle in American households. This represents not just unused capital, but untapped potential for financial inclusion. While digital payments have surged, millions of Americans still rely on cash and at Coinstar, we see firsthand how critical cash services still are today. In fact, more than 90% of consumers intend to use cash as either a means of payment or store of value in the future.
To better close the gap between physical and digital money, we expect more hybrid, inclusive finance options, or an ecosystem where consumers have access to all forms of money management. Successful financial technologies won’t be those that push for complete digitalization, but those that bridge between physical and digital realms, like CINQ by Coinstar™. It’s about creating infrastructures that respect diverse financial preferences while expanding access and building loyalty. The future of financial services won’t be exclusively digital or physical, but rather an intelligent blend that meets consumers where they are.
Coinstar’s extensive kiosk network is a significant asset. How do you see these kiosks evolving in the coming years, especially as more financial services move online?
Coinstar has only scratched the surface for providing options to the underserved, cash-preferred segment. We remain bullish on the benefits of the physical kiosk network and don’t expect cash to go away.
As we look ahead, the financial industry stands at a crossroads where physical and digital currencies converge. To better close the gap between physical and digital money, we expect more hybrid, inclusive finance options, or an ecosystem where consumers have access to all forms of money management. Successful financial technologies won’t be those that push for complete digitalization, but those that bridge between physical and digital realms. It’s about creating infrastructures that respect diverse financial preferences while expanding access and building loyalty. We can envision a future where combining the large network of Coinstar® kiosks with mobile capabilities offers unmatched access to financial services.
Beyond coin counting and digital wallets, are there other areas where Coinstar is looking to expand? What’s the broader vision for the company’s future?
If we look at the target Coinstar customer, we’ll continue providing opportunities and financial services they might not have access to in other ways.
Our coin recycling initiatives will also remain important to Coinstar’s future. Consumers may not realize we recycle 35 billion coins annually. Coinstar’s programs to keep coins in circulation is essential to reducing the demand for new minting, which in turn conserves resources and supports financial efficiency.
Trust is critical in financial services, especially when dealing with cash-dependent consumers. How does Coinstar ensure security, reliability, and ease of use across its platforms?
With over 30 years of accurately counting our customers’ money, or approximately $3 billion annually, Coinstar has earned trust as a reliable financial services provider. We continue to provide comprehensive customer support, including in-app help, live chat and phone support to ensure our users have assistance whenever they need it.
Looking ahead, what’s next for Coinstar? Are there any emerging trends or innovations that you’re particularly excited about?
With the recent resurgence of penny production being discussed, we’d agree that reducing or suspending penny production can create noticeable government cost-savings in a short amount of time. Yet, while the U.S. Mint could stop producing new pennies, the billions already in circulation remain an important part of everyday transactions. In addition to using pennies in everyday commerce, Americans can also put their pennies to good use today including charitable donations, coin recycling, and in support of local and cash-only businesses.
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