Amazon has another new secret weapon

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Amazon has another new secret weapon

By Gina Acosta - 05/18/2018
Coinstar expects around 5,000 kiosks to have the capability by the end of the year. It is rolling out the feature at select grocery stores in the northeast.

A new partnership with Coinstar will allow consumers to exchange their money for Amazon Cash.

Now at select Coinstar kiosks with bill acceptors, customers can deposit paper bills into their Amazon Cash account for any amount between $5 and $500. There are no fees required to use the new service, which only requires a phone number for an Amazon Cash account.

Amazon Cash debuted last year and lets people pay for products on its site without the need for a credit/debit card or bank account, and without any fees.

Coinstar expects around 5,000 kiosks to have the capability by the end of the year. It is rolling out the feature at select grocery stores in the northeast.

"We're excited to team up with Amazon and give shoppers an easy and convenient way to add cash to their Amazon Balance," said Jim Gaherity, CEO of Coinstar, LLC. "Coinstar is proud to enable Amazon Cash at Coinstar kiosks for cash-preferring customers, who can now enjoy the same benefits of shopping online as any other customer. Best of all, there are no fees to use the service."

Amazon customers wishing to spend their cash on Amazon via Coinstar only need to associate their phone number to their Amazon account, which they can do at www.amazon.com/cash.

To begin a transaction at Coinstar cash-accepting kiosks, the customer selects "Cash Services," and then "Amazon Cash." Next, the customer enters their phone number and inserts bills into the cash acceptor on the kiosk totaling any amount between $5 and $500. An Amazon.com Gift Card is automatically purchased and claimed to the customer's Amazon Balance and is available for immediate use for eligible items on Amazon.com or select affiliated properties. 

Coinstar kiosks are located in high-traffic retail locations, including grocery stores and mass merchants. 

Based in Bellevue, Wash., Coinstar owns and operates the largest fully automated, multi-national network of self-service coin counting kiosks, with nearly 20,000 kiosk locations.

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