To buy Coca Cola using bitcoins, customers must scan a QR code through the Sylo Smart Wallet.
A total of 2,000 Coca Cola vending machines accept bitcoin as a payment method in Australia and New Zealand, after an alliance between the subsidiary of the beverage company and a startup company.
According to the information related to the initiative, the subsidiary company of the beverage company in Asia and the Pacific, Coca Cola Amatil, established an alliance with Centrapay, the renowned startup company that performs payment processing in cryptocurrencies. The companies hope that this new inclusion will allow customers of the brand to have greater purchase options, as well as provide greater security when receiving the product for the established price and avoid failures in the traditional payment system with physical money.
Instructions to purchase with Bitcoin accompanied the announcement of this new payment method. Centrapay explained that users must have the Sylo Smart Wallet app installed on their smartphone. This application is a digital wallet that scans a QR code that the vending machine issues. The code identifies the product that the user expects to purchase and processes the instant payment. Until now, Centrapay allows the payment of these products in Bitcoin (BTC) and other cryptocurrencies.
Regarding marketing activity, Centrapay commented that this type of initiative helps companies to be closer to customers, opening a range of options that facilitate the purchase of their products. Additionally, increasing payment options would help increase revenue, according to what the startup detailed. Currently, Centrapay not only manages the crypto payments activity to Coca Cola, but also manages a portfolio of clients ranging from Jack Daniel’s, KFC, and Adidas.
On the adoption of this technology in the purchase of products, Jerome Faury, CEO of Centrapay said that, after many efforts, the company solved two of the most common problems in digital asset payment systems: the user experience and the integration of technology into the economic structure.
Similarly, the executive mentioned that the development of this technology would not only boost the businesses of the companies affiliated with the platform but would also help small partners and retailers of these companies.
“We are working to create a future in which people control their data and digital identity. Brands can connect directly and ethically with people, empowering them to make the right purchasing decision, while supporting their retail partners and other distribution partners,” he commented.
In another sense, Faury referred to the future of the payment platform and commented that he hopes to expand this business worldwide. “We have established a presence in North America and will target the US market soon with some first-class innovations,” he said.
Centrapay’s platform can include a wide range of options for commercial payments. Its ecosystem enables reliable digital asset transactions and supports rewards services in digital currencies and crypto-wallets. The inclusion of digital assets in product payment services drives adoption in the use of cryptocurrencies and other digital operations.
By María Rodríguez