Reaching out to the unbanked: Doxo & Coinstar

In a move to reach out to approximately 6% of the US population that settle their utility bills in cashMoney in physical form such as banknotes and coins. More, Doxo has partnered with Coinstar. The online bill paymentA transfer of funds which discharges an obligation on the part of a payer vis-à-vis a payee. More provider Doxo has recognized the need to offer consumers that prefer cash – or that simply do not have access to a bank account or a credit card – an alternative to digital payments.

With about 21,000 Coinstar kiosks across the country and with 45,000 payable billers in the Doxo network, consumers will simply need to select the cash payment option in the Doxo app, scan the automatically-generated QR code, and pay their bills at any Coinstar kiosk.

Thanks to this system, consumers can settle their bills at any time, even after hours. Others have already adopted cash payments to respond to the needs of the unbanked, including DivDat and PayNearMe. Indeed, even though digital payments have gained in popularity, many consumers turned to cash payments following the financial crisis as a way to better manage their spending.

To read PaymentsSource’s entire article [paywall], please click here. 

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