Instant cash for phones & electronics
You want to buy that new iPhone 5, but what should you do with your old one? Now you can head down to your local mall or grocery store in 10 U.S. states and deposit it in an automated kiosk in exchange for cash . . and help the environment at the same time!
Using cameras, artificial intelligence, and proprietary algorithms, the five-foot-high kiosks recognize 4,000 phones, MP3 players, and tablets with 97.5 percent accuracy, according to Mark Bowles, founder of ecoATM. They assess physical and electrical damage and spit out a cash offer. The average going rate for a slightly damaged iPhone 4 or 4S is $175; a beat-up Samsung Galaxy S generally fetches about $60.
To date, ecoATM has collected about 500,000 devices, and it aims to recycle 20 million by 2014. In addition, as they collect more devices, good or bad, ecoATM makes ongoing donations to a variety of organizations that plant trees supporting sustainability throughout the hemisphere.