Coinstar Hires General Manager to Drive Companys Expansion into E-Payments Category

Verleye brings to Coinstar more than 25 years experience, which includes leading organizations, driving business development for emerging markets, sales and new channel development, and forming strategic alliances. Most recently, Verleye was the president and CEO of Applied Microsystems where he led a new management team through a turn-around effort, involving investment in new markets and new technology. Prior to that, he held senior management positions at Radisys Corp., Sequent Computer Systems, and Intel Corp. Coinstar, best known for its convenient self-service kiosks that turn coins into cash, began offering new electronic services across its 10,000-plus-machine network in 2003, including prepaid cash cards, prepaid wireless services, and electronic payroll services. Last year, Coinstar also introduced its Coinstar Prepaid Center, offering a range of self-service electronic transactions from a small footprint kiosk. The e-payments category includes services ranging from prepaid products to bill payment and payroll debit cards. Industry analyst data shows that the prepaid segment alone represented $99 billion in 2003 and is projected to grow to $154 billion by 2005. This includes prepaid wireless, digital content and stored value cards. Verleye joined Coinstar this month, and is located at the companys corporate headquarters in Bellevue, Wash.