Blog Posts |
4 min read
Behind the bright screen and the easy-to-use coin acceptor of our retail kiosk lives Coinstar’s cutting-edge technology, the differentiator that makes our kiosks full-service financial destinations. Our coin-counting technology is constantly being improved and updated to ensure reliability, making our kiosks traffic magnets for your store. This technology is a key part of our programs. With Coinstar for Retail, your customers have a fast and convenient way to convert their loose change into cash or NO FEE eGift Cards. Up next on our list of capabilities? The direct transfer of coins and cash to the customer’s checking account.
Comprehensive Features for Convenient Operation
Coinstar for Retail kiosks use cutting-edge technology to improve both the customer’s experience and the ease of operation for retailers. Each of the features on our kiosk has its own added benefits.
Coin Acceptor
Other coin kiosks use coin slots that force coins into place based on their respective size. This can cause frequent jamming, and when a machine jams, you may have to wait days for maintenance to come and resolve the issue. Additionally, if this piece of the kiosk breaks, you may have to turn your kiosk off for longer periods of time while waiting for a replacement part.
All of our kiosks count coins differently, analyzing their metallurgical properties instead of sorting them by size into slots. Our patented coin-counting technology combines advanced sensors, algorithms, and machine learning to accurately count and sort coins. This prevents the machine from jamming, minimizing costly downtime and the need for maintenance. Our coin-counting technology also provides a more accurate count. There is often variance in DIY machines, resulting in customers receiving less than what they put in, but we’re so confident in our accuracy that we reimburse based entirely on what the machine counts and make any variance our responsibility.
Vouchers
Instead of directly dispensing cash, we utilize verified vouchers that can be easily tracked and traced, allowing your Coinstar for Retail team to monitor their use and detect any fraudulent activity. Additionally, our vouchers have unique codes or serial numbers that can help prevent fraud or counterfeiting. These codes or numbers are verified by the participating retailer before the cash is given to the customer to ensure that the voucher is legitimate and has not been tampered with.
Our upcoming program, Retail Remote Transfer, gives customers an alternative to vouchers, allowing them to quickly transfer their coins and cash to their checking accounts. This greatly reduces the risk of theft or fraud, as the funds will be digitally transferred, and requires proper identification of the customer to ensure account security.
By using vouchers instead of direct cash, we reduce the amount of physical cash that needs to be handled and transported, giving your customers access to the valuable financial services they need with less risk of theft or loss.
Fraud Protection
Our team and our kiosks take several measures to mitigate fraud and ensure the integrity of our kiosks. Some of the ways we do this include:
- Fraud detection algorithms: We use advanced algorithms to analyze transaction data and detect any patterns or behaviors that may indicate fraudulent activity.
- Coin validation technology: Our coin-counting technology is designed to detect and reject any foreign coins or other objects that may be mixed in with the coins.
- Bill acceptor validation: The bill acceptor technology used by Coinstar is designed to detect counterfeit bills and reject them from the transaction.
Additional Features
Many Coinstar retail kiosks now feature a bill acceptor and card reader, allowing customers to transfer their cash to their checking account with ease through the upcoming Retail Remote Transfer program.
Our retail kiosks also communicate with Coinstar field operations and customer service teams through cellular connectivity, allowing for constant kiosk health monitoring. With this innovative feature, we are able to ensure your kiosk doesn’t go down without warning, and issues are resolved quickly to maintain revenue and customer satisfaction.
Coin Counting Done Right
When looking for the best coin-counting solution for your store, the turnkey Coinstar kiosks are one of the most technologically advanced options. Our highly-accurate coin-counting technology, combined with our comprehensive customer service, delivers the best experience for both your team members and your customers.
Ready to boost your profit with only 8 square feet of space? Connect with your Coinstar for Retail representative to learn more about how our industry-leading technology can make your front wall more profitable.
