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Coins2Cards (2/23/01)
FULL STORY:
Before long, those tall, green, coin counting machines you see in supermarkets
will be dispensing prepaid MasterCards. Coinstar,
DataWave, and Michigan National Bank announced this week they have teamed to
issue a MasterCard branded prepaid card through the Coinstar and DataWave
networks. Coinstar owns and operates the only nationwide network of
supermarket-based machines that offer coin counting and other electronic
services. The Company estimates there is $7.7 billion in coins sitting in
people's homes. The approximate value of a coin stash is between $30-$50 per
U.S. household. Since last summer, Coinstar and Canada-based DataWave have
worked together to integrate DataWave's wireless processing technology into the
Coinstar network of machines to sell prepaid phone cards. Coinstar owns and
operates the only nationwide network of supermarket-based machines that offer
coin counting and other electronic services. This week's announcement will move
Coinstar beyond offering just coin counting machines. Eventually this new
technology will give Coinstar customers the option of turning their coins into
a convenient and secure prepaid MasterCard. For more information visit
http//www.coinstar.com.
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