Coca-Cola Amatil invests in digital asset platform Centrapay

Coca-Cola Amatil has invested an undisclosed amount in digital asset platform Centrapay through its Amatil X venture capital unit.

Centrapay leverages blockchain to create digital products and alternative payment systems, such as the Sylo Smart Wallet; an app that combines a private messenger with a digital wallet, allowing users to pay for products and share digital currencies.

Centrapay is reportedly expanding its focus to provide merchants with the ability to accept contactless fiat, epay giftcards and vouchers without being charged a ‘per transaction fee’ when using an existing EFTPOS terminal.

According to the company, this investment will accelerate integration with point of sale and payment terminals, enable brands to connect more directly with their consumers and drive more innovation in payments and value exchange.

Centrapay CEO, Jerome Faury, said: “Both Centrapay and Coca-Cola Amatil are committed to preserving consumers’ privacy and data ownership rights, whilst increasing business value.

“The fact that Coca-Cola Amatil has invested in Centrapay through Amatil X, shows that there is a real appetite to provide customers with new ways to engage or to exchange value.”

Coca-Cola Amatil’s investment follows the establishment of a commercial partnership between the two firms earlier this year. This partnership enables consumers in Australia and New Zealand to use bitcoin and other cryptocurrencies to pay for products across Coca-Cola Amatil’s vending network.

Consumers can use the Sylo Smart Wallet to pay for these products, as the vending machines are equipped with QR code stickers which accept payments in digital currency with a scan of a user’s phone camera (considering the Sylo Smart Wallet is installed).

Coca-Cola Amatil’s head of Amatil X, Alix Rimington, added: “We already have a commercial relationship with Centrapay and our investment further supports our partnership with the team.

“Amatil’s customers can use their Sylo Smart Wallet at any one of our 2000+ vending machines with a QR code payment sticker. These are located across New Zealand and Australia and will accept payments in cryptocurrency or other digital assets with a scan of your phone’s camera when Sylo Smart Wallet is installed.”