Based in New Zealand, Centrapay’s mission is to ‘unlock better ways for businesses, brands and consumers to connect, engage and pay’. It specialises in the adoption of digital assets and merchant payments.
It is expanding its focus to give merchants the ability to accept contactless fiat, Epay giftcards and vouchers without being charged a ‘per transaction fee’ using their existing EFTPOS terminal.
The company has also developed a Centrapay Wallet, which allows consumers to send fiat or other supported payments 'as easily as sending a text message'.
'The way we exchange value is set to change dramatically'
Coca-Cola Amatil has made the investment in Centrapay via its corporate venturing platform, Amatil X, as part of Centrapay's seed funding round.
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.’
“The fact that Coca-Cola Amatil has invested in Centrapay through Amatil X shows there is a real appetite to provide customers with new ways to engage or to exchange value,” says Centrapay CEO Jerome Faury.
“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.
“Centrapay is in an ideal position to play a pioneering role in driving acceptance of digital assets with merchants.”
In June, Coca-Cola Amatil and Centrapay announced the use of Centrapay technology with its vending machines, allowing people to pay for vending machine items using cryptocurrency in an effort to offer contactless solutions in a COVID-19 era.
Consumers can use a Sylo Smart Wallet (a digital wallet available via Apple App and Google Play) at 2,000+ vending machines with a QR code payment sticker across Australia and New Zealand. Users simply use their phone camera to scan the code and pay digitally.
“We already have a commercial relationship with Centrapay and our investment further supports our partnership with the team,” said Alix Rimington, Coca-Cola Amatil’s Head of Amatil X.