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Cash Goes in, Gift Certificate Comes Out -- Coinstar Now Offering Gift Certificates Redeemable At Amazon.com With No Transaction Fee
BELLEVUE, Wash.--(BUSINESS WIRE)--Sept. 13, 2005--
Agreement creates convenient way for customers to use coins or
bills for online purchases
Coinstar, Inc. (Nasdaq:CSTR) and Amazon.com (Nasdaq:AMZN) today
announced the two companies will team to provide a convenient new way
for consumers to use cash to make online purchases. The Coinstar and
Amazon agreement makes it possible for customers to exchange coins and
also bills at Coinstar Centers -- with no transaction fee -- for a
gift certificate redeemable at Amazon.com.
The Coin to Card(TM) program from Coinstar is a new service that
allows the average American to take the approximately $99 in loose
change that is sitting in their house and turn it into clothing,
music, books, movies and more from Amazon.com, including many items
offered on the site by third party sellers.
"We're always working to make buying on Amazon.com more convenient
for customers," said Toni Reid, Director of Business Development.
"We're excited to work with Coinstar to make using cash for online
purchases easy with no additional cost, as there are thousands of
Coinstar Centers around the country and there is no transaction fee to
turn coins or bills into a gift certificate redeemable at Amazon.com."
Coinstar estimates that approximately $10.5 billion in spare
change is sitting unused in American households and previous to this
arrangement, there was no easy way for consumers to spend this money
online. The Coinstar and Amazon agreement creates one of the first
self-service methods for using cash to make purchases on the Internet.
"We're thrilled to offer gift certificates redeemable at
Amazon.com as part of our Coin to Card(TM) program," said Peter Rowan,
Vice President of New Business Innovation at Coinstar, Inc. "Using
idle change or found money to make online purchases brings 'shopping
freedom' to consumers who either prefer to use cash or don't have
access to credit."
To take advantage of this new program, customers visit a local
Coinstar Center at supermarket locations offering the gift
certificates redeemable on Amazon.com, which they can locate by
visiting www.coinstar.com. Users simply insert their coins into the
machine -- or at many Coinstar Centers bills are accepted -- and then
a receipt is printed with a redemption code that can be immediately
used to make purchases at Amazon.com. The redemption code is entered
during Amazon.com's checkout procedure and the gift certificate amount
is applied at the time of purchase, or the customer may also
conveniently add any remaining amount to their Amazon account for
later use. For standard coin to cash transactions Coinstar has a
processing fee, however, when consumers turn their coin into an
eCertificate or gift card, there is no fee to the consumer.
Coinstar's Coin to Card(TM) program introduced earlier this year
allows consumers to convert loose change into a variety of gift cards
and now gift certificates that are redeemable at Amazon.com. The
program is currently available at approximately 3,500 locations and is
expected to reach 5,000 by the end of the year.
About Coinstar, Inc.
Coinstar, Inc. (Nasdaq:CSTR) is a multi-national company offering
a range of 4th Wall(TM) solutions for the retailers' front of store
consisting of self-service coin counting, electronic payment
solutions, and entertainment services. The company's products and
services can be found at more than 44,000 retail locations including
supermarkets, drug stores, mass merchants, convenience stores, and
restaurants. American Coin Merchandising Inc., Cell Cards of Illinois,
L.L.C., and Coinstar E-payment Services, Inc. are wholly-owned
subsidiaries of Coinstar, Inc. For more information, visit
www.coinstar.com.
Coinstar, Inc. Forward-Looking Statement
This press release contains forward-looking statements relating to
Coinstar, Inc.'s anticipated growth and future operating results.
These are forward-looking statements for purposes of the safe harbor
provisions under the Private Securities Litigation Reform Act of 1995.
The words "believe," "expect," "intend," "anticipate," "goals,"
variations of such words, and similar expressions identify
forward-looking statements, but their absence does not mean that the
statement is not forward-looking. The forward-looking statements are
not guarantees of future performance and actual results may vary
materially from the results expressed or implied in such statements.
Differences may result from actions taken by Coinstar, Inc., as well
as from risks and uncertainties beyond Coinstar, Inc.'s control.
Factors that could cause or contribute to such differences include,
but are not limited to, Coinstar, Inc.'s ability to (a) enter into
additional card partner agreements on terms that are not materially
adverse to Coinstar, Inc., (b) bring new and repeat customers to
Coinstar(R) machines, (c) obtain new agreements with potential
retailers for the installation of Coinstar machines or retain current
agreements with our existing retailers on terms that are not
materially adverse to Coinstar, Inc., (d) compete with additional
potential competitors, (e) anticipate legal or governmental regulatory
action and uncertainties relating to the ultimate success of new
business initiatives such as Coin to Card or e-payment services. The
foregoing list of risks and uncertainties is illustrative, but by no
means exhaustive. For more information on factors that may affect
future performance, please review the most recent Coinstar, Inc.
reports filed with the Securities and Exchange Commission. These
forward-looking statements reflect Coinstar, Inc.'s expectations as of
September 13, 2005. Coinstar, Inc. undertakes no obligation to update
the information provided herein.
About Amazon.com gift certificates
Amazon.com gift certificates are issued and sold by A2Z Gift
Certificates, Inc., an Idaho Corporation. For additional information
regarding the legal terms and conditions, go to
www.Amazon.com/gc-legal.
About Amazon.com
Amazon.com, Inc., (Nasdaq:AMZN), a Fortune 500 company based in
Seattle, opened on the World Wide Web in July 1995 and today offers
Earth's Biggest Selection. Amazon.com seeks to be Earth's most
customer-centric company, where customers can find and discover
anything they might want to buy online, and endeavors to offer its
customers the lowest possible prices. Amazon.com and other sellers
offer millions of unique new, refurbished and used items in categories
such as beauty, health and personal care, jewelry and watches, gourmet
food, sports and outdoors, apparel and accessories, books, music,
DVDs, electronics and office, toys and baby, and home and garden.
Amazon.com and its affiliates operate seven retail Web sites:
www.amazon.com, www.amazon.co.uk, www.amazon.de, www.amazon.fr,
www.amazon.co.jp, www.amazon.ca, and www.joyo.com.
As used herein, "Amazon.com," "we," "our" and similar terms
include Amazon.com, Inc., and its subsidiaries, unless the context
indicates otherwise.
Amazon.com, Inc. Forward-Looking Statement
This announcement contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E
of the Securities Exchange Act of 1934. Actual results may differ
significantly from management's expectations. These forward-looking
statements involve risks and uncertainties that include, among others,
risks related to potential future losses, significant amount of
indebtedness, competition, management of growth, potential
fluctuations in operating results, international expansion, outcomes
of legal proceedings and claims, fulfillment center optimization,
seasonality, commercial agreements, acquisitions, and strategic
transactions, foreign exchange rates, system interruption, consumer
trends, inventory, limited operating history, government regulation
and taxation, fraud, and new business areas. More information about
factors that potentially could affect Amazon.com's financial results
is included in Amazon.com's filings with the Securities and Exchange
Commission, including its Annual Report on Form 10-K for the year
ended December 31, 2004, and all subsequent filings.
CONTACT: Coinstar, Inc.
Marci G. Maule, 425-943-8277
mmaule@coinstar.com
or
Porter Novelli
Caitlin Donahue, 206-770-7025
caitlin.donahue@porternovelli.com
or
Amazon.com
Media Relations:
Craig Berman, 206-266-7180
SOURCE: Coinstar, Inc.
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