Coca-Cola Amatil invests in digital asset platform Centrapay

AUSTRALIACoca-Cola Amatil’s corporate venturing platform, Amatil X, has completed a minority investment in digital asset platform, Centrapay, as part of its seed funding round.

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.

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 are also be able to send fiat or other supported payments as easily as sending a text message, using the Centrapay Wallet.

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, says the two companies have strong strategic alignment in that, “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 exchange of value is set to change dramatically.

“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 investment follows the establishment of a commercial partnership between the two firms earlier this year.

The 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.

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

“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 said.

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