(Alliance News) - musicMagpie PLC on Tuesday said it has completed the roll-out of its SmartDrop kiosks in Asda stores across the UK.

musicMagpie is a Stockport, England-based used-technology reseller

It says there are kiosks in 290 Asda stores meaning "90% of the UK's population live within a 15-minute drive of one".

The kiosks offer a "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.

The kiosks are part of a wider sustainability partnership between musicMagpie and Asda. An affiliate agreement between the two businesses means that Asda customers can buy and sell refurbished consumer technology and entertainment products with musicMagpie through the Asda website and mobile app.

Chief Executive Officer & Co-Founder Steve Oliver 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 GBP16.5bn 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."

Shares in musicMagpie were trading 0.8% lower at 12.20 pence each in London on Tuesday afternoon.

By Chris Dorrell; chrisdorrell@alliancenews.com

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