More than £7m paid out to customers using musicMagpie kiosks in Asda stores

There are now kiosks in 290 Asda stores across the UK. So far, more than £7m has been paid out to customers using the kiosks, with 25,000 phones having been traded in at an average price of £273 over the past year.

A spokesman said: “For customers, the kiosks offer an even faster and easier way to recycle unwanted phones for instant cash. Customers take their phone to a kiosk, receive a valuation, deposit it and then have the money paid to their bank or PayPal account within minutes, which they can then use to pay for their shopping instore that day if they choose. For musicMagpie, the kiosk network gives it an opportunity to buy incremental units by unlocking the value of the unused tech in homes across the country.”

The kiosks are part of a wider sustainability partnership between musicMagpie and Asda. An affiliate agreement between the two businesses means that Leeds-based Asda’s customers can buy and sell refurbished consumer technology and entertainment products, such as mobile phones, tablets, DVDs and CDs, with musicMagpie through the Asda website and mobile app. When selling, the items can then be dropped off by the customer at any Asda store, from where they are transferred to musicMagpie using Asda's "toyou" service. In addition, Asda sells musicMagpie's pre-owned DVDs and CDs in more than 200 of its stores across the country.

musicMagpie said it is now exploring further opportunities for its SMARTDrop Kiosks.

Steve Oliver, Chief Executive Officer and Co-Founder of musicMagpie, said: "We are delighted to have completed the rollout of our innovative SMARTDrop kiosks with Asda. In the current climate, it’s critically important that we make it as easy as possible for people to free up cash, especially as we know that that the average household has 11 items of unused consumer technology lying around, totalling £16.5bn across the UK and depreciating by the day.

"The wider partnership with Asda is an integral part of our 'buy more, sell more, rent more' strategy, and gives consumers even more opportunities to make decisions that are both smart for them and smart for the planet."

Operating through two brands – musicMagpie in the UK and decluttr in the US – musicMagpie’s aims to provide consumers with a sustainable way to buy, rent and sell refurbished consumer technology.

Founded in 2007, the group has an established presence in the UK, with operations in Stockport, Greater Manchester, and in the US in Atlanta, Georgia.