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Coinstar, First Data push pay cards at kiosks
May 13, 2007
DENVER - Coinstar Inc. and First Data Corp.have agreed to start selling a pay card at Coinstar kiosks.
The two companies announced an agreement between Money Network Financial LLC, a First Data company, and Coinstar E-Payment Services Inc., a Coinstar company, to sell the Money Network Pay Card at select Coinstar kiosks.
According to a news release, the pay card offers unbanked and underbanked consumers diverse financial management tools, instant prepaid debit-card issuance prepaid debit card as well as a check-writing.
To obtain the Money Network Pay Card at Coinstar kiosks, consumers select and load funds onto a Star Networkd-branded card.
"Essentially a total payment vehicle in your wallet, this product represents the next step for prepaid cards," said Steve Verleye, senior vice president and general manager of Coinstar's e-payment services.
The card is expected to be available at Coinstar's coin-counting and financial-services kiosks, beginning with installations in select Albertsons grocery stores, by the second half of the year.
Banking Executive SummaryTransaction ProcessingRetail / Off-PremisesNorth AmericaLatin AmericaEFT NetworksKiosks/Self-ServicePrepaid / Stored Value / Gift CardUnderbanked / UnbankedOtherBank / Credit UnionSoftware
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