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It’s Like an ATM for Old Cell Phones

Posted March 01, 2011 9:39 AM by Steve Melito

Would you trade-in your old cell phone for cash? A company called ecoATM™ is betting that you will, and just might make some money for itself in the process. Recently, the award-winning San Diego startup introduced its new eCycling Station, a fully-automated kiosk with a built-in cash dispenser like works like an automated teller machine (ATM). Instead of inserting your bank card, however, you deposit your old cell phone. A touchscreen display guides you through the process.

ecoATM unveiled the eCycling Station at DEMO Spring 2011, a trade show for emerging technologies that began last week in Palm Desert, California and which ends today. The company's new self-service kiosk uses patented machine vision technology along with electronic diagnostics and artificial intelligence to evaluate consumer electronics and offer cash or a store credit. ecoATM bills its innovation as "the first fully-automated consumer electronics recycling kiosk with a built-in cash dispenser".

Matt Marshall, the executive producer of DEMO, seems as excited about ecoATM as the San Diego company does about itself. "ecoATM is unique because their value proposition is relevant to almost everyone and because they don't ask their customers for money; they pay money to their customers," Marshall explains. "ecoATM (also) has an overarching public benefit by helping save our environment from tons of eWaste."

What do you think about ecoATM and its new eCycling Station?

Sources: MarketWire and DEMO

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#1

Re: It’s Like an ATM for Old Cell Phones

03/01/2011 3:58 PM

Does it check that the depositor is the owner of the 'phone? If so, how? (Can't see many people depositiong thier phone with the SIM card in). If not, it sounds like open day for phone thieves. Instant cash, no questions asked.

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Re: It’s Like an ATM for Old Cell Phones

03/02/2011 2:14 AM

I'm interested to know whether there is a similar ATM system for say torch or penlite batteries. Like the case of cell phones, there are not many companies that sepcifically recycle bateries. Batrec in Switzerland is one example. In read that Moscow had a central point for dumping the old cell phones. In the case of batteries you have to pay the company to take the collected waste off your hands. With the cell phones I'm sure there are sufficient precious and other metals in the scrap to pay the recyclers coming to the ATM as well as the party running the ATM units.

BJ Invention,

South Africa

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#3

Re: It’s Like an ATM for Old Cell Phones

07/09/2011 9:38 AM

just watched the video for this its quite an idea but given time people may figure out how to rip it off or just steal the whole machine lol i have about 6 phones to get rid of so far

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