CYPRUS. ARI has installed a Coindrum self-service currency exchange units in its duty free shop at Larnaca Airport.
The Coindrum machine allows passengers to deposit leftover coins before departure and receive a duty free shopping voucher worth 10% more than the deposited coins.
ARI partnership CTC-ARI Airports operates the duty free and duty paid retail outlets at Larnaca Airport.
CTC-ARI General Manager Garrett Coogan noted: “We pay a lot of attention to innovations in the travel retail field and the Coindrum team stood out. The solution is beautiful in its simplicity whilst offering greater footfall and penetration for CTC-ARI.”
ARI was the first travel retailer to partner with Coindrum, with its market launch at Dublin Airport in 2014.
Coindrum has since partnered with Dufry, with units so far installed in Milan Malpensa and Faro airports.
Coindrum Founder Lukas Decker said the company was now “well positioned to further help our existing as well as new travel retail partners drive spend to their tills”.
The company claims to have achieved one of the largest seed financing rounds in Irish history. It raised over US$2 million in its latest investment round in January, with contributions from several leading technology entrepreneurs.
