Facebook Connect Twitter Connect RSS Feeds
  • Brands
  • Search
  • Contact
Recycle Electronics With EcoATM At Your Local Store

Maybe now is finally the time to dig out those old cell phone and get rid of them. But not in the trash, and not at your local big box retailer or office supply store. I mean in your ATM; let me explain.

A company called EcoATM that makes recycling kiosks wants to turn your old electronics into cash — or a coupon, gift card, or charitable contribution, if you prefer. EcoATM has received $14.4 million in Series A funding from the likes of coin-processing giant Coinstar and Claremont Creek Ventures. They will charge you nothing to use their service, rather they will pay you to recycle old and unwanted phones.

So if you are like me you are probably wondering, how does it know what I put in? How does it prevent unscrupulous people from gaming the system? The trick is in a bit of diagnostics, machine vision, and some artificial intelligence. This will also help in determining if there is any damage, in order to assess an item’s true worth. Because the company looks to make money by accurately assessing value and market needs, then matching up these recycled items with new buyers. It’s like an “EBay-in-a-box”, their website claims, only without the administrative pain that accompanies using EBay. No more listing items, shipping them, worrying about returned items, etc.

There are only 11 US ATM locations currently, although the new funding will provide the resources to branch out to more of the country, refining their detection algorithms in the process. For now, you’re limited to dumping electronics like cell phones, cameras, GPS devices, laptops. There’s no word on plans to branch out to things that are not plastic, paper, or glass. Now if I can only find a way to get rid of my old couch.

Here is how the system works.

Here is their promotional video.