Leading fintech infrastructure provider Lithic enables seamless physical-to-digital currency conversion through the CINQ by Coinstar™ Debit Card
Lithic, the card issuing and processing platform powering next-generation financial experiences, today announced it has been selected by Coinstar®, LLC to power the new CINQ by Coinstar™ Debit Card, a general purpose reloadable (GPR) product. The card integrates with the CINQ by Coinstar™ digital wallet and converts physical currency into funds that can be accessed through both virtual and physical cards. The CINQ by Coinstar™ Debit Card is issued by Lead Bank.
The CINQ by Coinstar™ Debit Card is designed for cash-preferred consumers who want flexible ways to manage their money. Through more than 10,000 participating Coinstar kiosks across the United States, users can convert loose change and cash into digital funds that are available within minutes. Lithic enables Coinstar to recognize kiosk-loaded funds in near real time, allowing users to spend with virtual card credentials shortly after funds are inserted.
As the full stack issuer processor, Lithic supports account creation, balance management, card issuing and transaction processing. Users can create account credentials, complete KYC, and receive a virtual card loaded with their funds in near real time. The platform supports full GPR capabilities including direct deposit, ATM access, and everyday purchases.
“This partnership reflects our commitment to supporting financial products that make a meaningful difference for consumers,” said Bo Jiang, CEO of Lithic. “Coinstar’s vision to bridge physical and digital currency aligns with our mission to provide the infrastructure that helps ambitious teams build better payments products. Together, we are reducing friction for cash-preferring consumers and expanding access to digital financial services.”
Lithic provides ledgering, card issuing, transaction processing, managed disputes and chargeback services, physical card printing and fulfillment, and advanced fraud prevention through real-time authorization decisioning. The partnership also includes ACH payment management, fees and transfers, settlement reconciliation, reporting, and specialized data mapping to support Coinstar’s program management requirements.
“Our partnership with Lithic reflects our commitment to building a financial inclusion platform that gives consumers more flexible ways to manage their money. Lithic’s technical expertise and collaborative approach have been essential in bringing the CINQ by Coinstar™ Debit Card to market and enabling future capabilities like early direct deposit and ACH bill pay. Together, we are expanding access to digital financial services for the consumers who rely on us most,” said Brandon Thompson, chief commercial officer at Coinstar.
The CINQ by Coinstar™ Debit Card expands Coinstar’s digital transformation by bringing more on-kiosk functionality into the digital world. The card is available now in the United States through Coinstar’s kiosk network and the CINQ by Coinstar™ digital wallet.
About Lithic
Lithic is a leading card issuing processor built for high-growth technology companies. Its APIs and operational services enable businesses to move money, build card programs and issue debit, credit and prepaid cards with ease and flexibility. Lithic helps companies scale with innovative financial infrastructure. For more information, visit www.lithic.com.
About Coinstar, LLC
Coinstar® is a financial technology company that provides convenient self-service solutions for converting physical currency and accessing related financial services. Through its mobile app and network of more than 24,000 kiosks, Coinstar enables users to convert cash and coins, get no-fee eGift Cards, donate to charities and complete account transfers powered by bank partners. Consumers can also manage digital funds and move money through the CINQ by Coinstar digital wallet. Coinstar also operates Coinstar.tv, which delivers interactive advertising on kiosk screens and digital out-of-home displays. For more information, visit www.coinstar.com.
Coinstar is not a bank. Coinstar is a financial technology company. The Coinstar Debit Card is issued by Lead Bank, Member FDIC, pursuant to licensing by Mastercard® International Inc. Fees apply. See Terms and Cardholder Agreement for more details.
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"Lithic’s technical expertise and collaborative approach have been essential in bringing the CINQ by Coinstar™ Debit Card to market and enabling future capabilities like early direct deposit and ACH bill pay."
Contacts
MEDIA CONTACT: Press@Lithic.com