PORTUGAL. Travel retailer Lojas Francas de Portugal (LFP) has partnered with Coindrum to offer travellers the chance to exchange unwanted Euros for shopping vouchers.
LFP, a joint venture between Dufry-owned Nuance Group and airline TAP, has placed a Coindrum unit inside its main departure store at Faro Airport.
The service allows passengers to swap Euros for an extra 10% free shopping credit on the deposited value. It launched in time for the main tourist season and the partners said they were primarily targeting UK passengers, who can deposit their coins before returning home.
Lojas Francas de Portugal Managing Director José Rosa said the service offered a category growth opportunity. “Beyond solving an inconvenience the service will also get more people to start browsing the LFP retail offerings,” he said.
Coindrum partnered with Dufry for an earlier launch at Milan Malpensa Airport. The unit installed there is primarily used by non-Schengen passengers, Coindrum reported, and these travellers are “the biggest spenders once they start shopping”.
Coindrum Founder and CEO Lukas Decker said of the Faro installation: “We are excited about yet another travel retail partnership that offers us the opportunity to grow at ambitious speed whilst driving incremental spend to LFP tills.”
