dentCoca-Cola consumers in Australia and New Zealand can now acquire their soft drinks with cryptocurrency through specific vending machines. A report by The Australian Financial Review recently highlighted that a deal between Asia-Pacific Coca-Cola distributor, Amatil, and Centrapay would see over 1200 point-of-sales accept Bitcoin and ERC-20 tokens.
Centrapay, crypto payments focused startup, is set to scale Amatil’s revenue potential as the world moves to digital payments in efforts to contain COVID-19. Notably, the firm’s website shows that its customers include popular brands like Jack Daniels, KFC, and Adidas. Jerome Faury, the CEO of Centrapay, has since noted that their goal is to increase the adoption of Web 3.0 by enhancing user experience and reducing integration complexity. Faury said,
“We have solved both these issues. Centrapay is pioneering the way to enable this new internet of value and bring its benefits to both consumers and merchants.
And it comes with the added benefit of reducing physical contact and addressing the hygiene concerns we’ve all become acutely aware of due to COVID-19.”
Making Crypto Payments for Coca-Cola
According to the underlying design, crypto payments to Amatil vending machines will be facilitated by QR codes. Ideally, a simple scan of one’s QR code payment sticker should initiate the transaction process. This functionality is backed by a digital storage dubbed ‘Sylo Smart Wallet,’ which ought to be installed prior. It acts as a decentralized link between messaging services and the digital wallet.
Following this milestone, Faury noted that Centrapay is looking to further expand its horizon into North America with a focus on the U.S market. According to the CEO, the success in Australia and New Zealand set a good precedent for Centrapay to roll out its products in global markets.
Amatil, on the other hand, also stands to benefit from its partnership with Centrapay. A spokesman from the firm has said that it already uses QR codes with Alipay and WeChat. It, therefore, makes it easier to scale its range of acceptable payment methods with digital assets:
“We want to ensure customers can transact with us in their preferred currency, so accepting digital assets is the next step for us as digital assets become more popular.”
This is not Coca-Cola’s first brush with blockchain tech or cryptocurrencies. In November 2019 they made the announcement they were using SAP’s blockchain tech to become more efficient. They partnered with Blockchain Trust Accelerator back in early 2018 to fight forced labor.