Koinage

Koinage LLC provides a mobile application that allows shoppers paying with cash to receive their change electronically. The platform is designed for both merchants and consumers to eliminate the need to handle physical coins. Customers use the Koinage app to generate a unique QR code, which is scanned by the merchant to transfer the correct change digitally into the user's Koinage wallet. Users can then withdraw the funds to their bank account for a small fee.

The service targets cash-paying shoppers and merchants who face challenges with managing physical change. By digitizing the receipt of coins, the company aims to reduce the time and cost associated with handling coins for small businesses and the inconvenience for consumers. The application allows for deposits, investments, or donations of loose change in real-time. The app is available on iOS and Android devices. Payouts to users are processed through Stripe.

The company was founded by CEO Chica. The idea for Koinage came from the common problem of accumulating and managing loose change, with significant amounts of money reportedly lost or sitting unused in homes annually. The company was working towards a beta launch with the goal of testing the service with actual users in a retail environment.

Keywords: digital change, mobile payments, QR code payments, cash transactions, fintech, retail payments, loose change solution, coin management, electronic wallet, peer-to-peer payments, mobile application, financial services, merchant services, consumer finance, digital currency, payment processing, Stripe integration, cash digitization