Coinstar to Offer a Prepaid Product

Published May 15, 2007, 1:00 a.m. EDT

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Updated May 14, 2007, 5:10 p.m. EDT

1 Min Read

Coinstar Inc. plans to sell a prepaid card for the underbanked through its change-counting machines and kiosks.

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First Data Corp. will process transactions for the Money Network Pay Card, which can be used to write checks, send money through ACH, and receive payroll deposits. The card will run on First Data's PIN debit network, Star, and can be upgraded to a reloadable Visa card. Users will be able to withdraw their entire paychecks without paying fees. The card will be offered at some Albertson's stores; Coinstar plans to expand the offering to other locations around the country this year.

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