EcoATM phone recycling kiosks proliferate (video)

"CBS This Morning" checks in on EcoATM, a California company that makes kiosks for trading in old phones and other gadgets for instant cash. It's not your typical money machine.

EooATM
Video screenshot by Christopher MacManus/CNET

A few years back, we introduced you to EcoATM, a San Diego-based start-up that had just hit the scene with an innovative kiosk that lets consumers trade in old phones for cash on the spot.

A "CBS This Morning" report this week checks back in with EcoATM, a maturing company that now boasts 181 kiosks set up in malls and retailers around the country.

The machine helps people recycle their phones and other gadgets quickly, and also throws money their way by scanning the devices with a series of sensors to determine their value. The transaction requires users to scan a photo ID and be digitally fingerprinted to help EcoATM and law enforcement deter fraud or the fencing of stolen items.

According to a 2012 Compass Intelligence report, 278 million deactivated cell phones currently live in our drawers and closets, while only 20 percent of those idle devices get recycled. Watch the video below to see an EcoATM machine in action.

 

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