CoinOut is a simple and convenient way for people who pay with cash to store their change digitally. The company has distributed its software through mobile point of sale providers, allowing customers to CoinOut their change at any participating merchants. Merchants utilize the software to reduce their cash processing costs and drive customers back to their store via CoinOut’s promotional tools. Through its banking partner, CoinOut has enabled a frictionless payment network that enables customers to move their change to their own bank account, digital gift card or certain charities for free. CoinOut was founded in 2014 by Jeff Witten, and is funded by a collection of individual investors around the country.