Coinstar to Offer Money Network Pay Card Through Coinstar Kiosks

The Money Network Pay Card offers underbanked consumers diverse financial management tools including an instant issue prepaid debit card, a check-writing product, a source for payroll direct deposit and a way to pay for money transfers from the United States to Mexico and Latin America.

To obtain the Money Network Pay Card at Coinstar kiosks, consumers select and load funds onto a STAR® branded Pay Card which is activated and instantly available for use at more than 2 million PIN-secured debit retail locations and ATM machines coast to coast. The single-load STAR card can be upgraded to a reloadable personalized VISA® branded prepaid card by calling Money Network. In addition, the Money Network Pay Card products include features that provide ACH bank transfers, as well as convenient paper Money NetworkTM Checks. The Money Network Checks offer a unique option that permits cardholders to withdraw up to 100 percent of their pay to the exact penny without any fees.

“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 E-Payment Services for Coinstar, Inc. “As a prepaid debit card, the Money Network Pay Card allows underbanked customers a low-cost instant-issue way to make purchases,” said Verleye.

The Money Network Pay Card will be distributed through Coinstar's coin-counting and financial services kiosks, beginning with installations in select Albertsons grocery stores. Expanded availability is expected to occur in the second half of 2007 through additional Coinstar kiosks and in-lane gift card malls nationwide at convenience stores, drug stores, financial institutions and retail locations.

“The evolution of the prepaid product is helping transform the payments industry and opening doors to numerous new choices for millions of underbanked employees and consumers,” said Money Network President, Mark Herrington. “We’re very confident that this agreement and Coinstar’s expanded network of retailers is going to help fuel the introduction and use of these products.”