PayPal Cash Deposit Strategy Introduced

by Mercator Advisory Group 0

Using PayPal like a checking account is getting easier for consumers living in Dallas who can drop by their local supermarket, dump cash into a Coinstar kiosk and deposit those funds into their PayPal account. This is one more enhancement PayPal is adding to the list of ways consumers can get funds into their account, including making check deposits via mobile remote depost capture applications . Even with the limited appeal of coin-based cash deposits, the PayPal brand is beginning to shift into the physical world at a sustained rate, reinforcing its status as the unacknowledged fifth network. From the PayPal blog:

A pilot test began in the Dallas metropolitan area last year, and has already seen quick adoption and interest from both PayPal and Coinstar users. The results have been impressive. We’ve found that 40 percent of our testers go back to use PayPal at Coinstar machines again and through survey research, we’re getting high marks from our users on the integration.

Click here to read more from the PayPal blog.