Coca-Cola Amatil's corporate venturing platform, Amatil X, has completed a minority investment in Centrapay, a digital asset payment platform. Centrapay is a leader in leveraging blockchain for digital product creation, distribution and alternative payments. It provides the technology to integrate with both consumer and merchant systems to enable everyday usage of digital assets. Coca Cola Amatil made this investment as part of the payment platform's seed funding round. Centrapay specialises in the adoption of digital assets and merchant payments. Its platform is designed to help brands connect directly with consumers and increase revenue and operational efficiency for merchants.
In addition to digital assets, Centrapay is expanding its focus to provide merchants with the ability to accept contactless fiat, Epay giftcards and vouchers without being charged a 'per transaction fee' using their existing EFTPOS terminal. Consumers will also be able to send fiat or other supported payments as easily as sending a text message, using the Centrapay Wallet.
The 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, says the two companies have a strong strategic alignment. "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," he says.
"The global money supply is evolving rapidly with new economic models and the advent of smart, programmable money. The way we exchange value is set to change dramatically. There's more change likely in the next 10 years than we've seen in the past 100 years.
"Centrapay is in an ideal position to play a pioneering role in driving acceptance of digital assets with merchants," adds Jerome. Coca-Cola Amatil's Head of Amatil X, Alix Rimington, says Coca-Cola Amatil was working with Centrapay to give consumers the option to use their Sylo Smart Wallet to pay for items across Amatil's vending network using cryptocurrency.
"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," she says.