Lithic, a platform for card issuing and processing, has partnered with Coinstar, LLC to power the new CINQ by Coinstar™ Debit Card, a general purpose reloadable (GPR) product designed to convert physical currency into digital funds accessible via virtual and physical cards.
The CINQ by Coinstar™ Debit Card integrates with the CINQ by Coinstar™ digital wallet and is issued by Lead Bank. It aims to serve cash-preferred consumers by offering flexible money management solutions. Users can convert loose change and cash into digital funds at over 10,000 participating Coinstar kiosks across the United States, with funds becoming available within minutes.
Lithic’s infrastructure enables Coinstar to recognize kiosk-loaded funds in near real-time, allowing users to spend with virtual card credentials shortly after depositing cash. As the full-stack issuer processor, Lithic supports various functions including account creation, Know Your Customer (KYC) processes, balance management, card issuing, and transaction processing. The platform facilitates full GPR capabilities, encompassing direct deposit, ATM access, and everyday purchases.
Bo Jiang, CEO of Lithic, stated, “This partnership reflects our commitment to supporting financial products that make a meaningful difference for consumers. 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’s services for the partnership include 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 collaboration also covers ACH payment management, fees and transfers, settlement reconciliation, reporting, and specialized data mapping to meet Coinstar’s program management requirements.
Brandon Thompson, chief commercial officer at Coinstar, commented, “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.”
This initiative expands Coinstar’s digital transformation efforts by integrating more on-kiosk functionalities into a digital framework. The CINQ by Coinstar™ Debit Card is currently available throughout the United States via Coinstar’s kiosk network and the CINQ by Coinstar™ digital wallet. Coinstar, a financial technology company, provides self-service solutions for currency conversion and related financial services, while Lithic offers APIs and operational services for building card programs and issuing various card types.
