Cryptocurrency, News & Updates

Coca-Cola makes Crypto Expenses a Reality

September 4, 2020

Coca-Cola Amatil, an international beverage giant, has announced about an expansion of its current partnership with New Zealand and Australia-based payment processor Centrapay, investing in the platform’s latest seed funding round.

Amatil X, Coca-Cola’s corporate venture capital fund, publicized a minority investment in Centrapay’s seed funding last Thursday. The platform of Centrapay currently provides services to companies, including BP, Carlton Draught, and KFC. The companies have secured an investment from Amatil X so that it can fuel a new initiative that will expand the platform’s payment capacities.

This year, Coca-Cola Amatil launched a corporate partnership with Centrapay, which brought cryptocurrency payment selections to thousands of vending machines around Australia and New Zealand. Centrapay’s funding round and investment from Amatil X will see the platform enlarge into contactless fiat currency payments, gift cards, and vouchers.

However, Centrapay has not yet announced any plans to integrate cryptocurrency payments into the new contactless payment options under expansions. The new services offered will permit Centrapay Wallet users to send fiat or any other supported payments in the same manner as a text message – possibly comprising cryptocurrency payments.

Centrapay Pushes Digital Currency Adoption

Jerome Faury, Centrapay’s CEO, emphasized the importance of bringing new payment options to market, referencing “programmable” money – this reflects the functionality offered by a smart contract that will enable cryptocurrencies such as Ethereum:

“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.”

It was also stressed by Faury that the core focus of the Centrapay platforms as a means to push adoption of digital currency, elaborating that Centrapay is focused on playing a “pioneering role in driving acceptance of digital assets with merchants.”

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