New Zealand blockchain companies Sylo and CentraPay have partnered to create their digital payment solution Sylo-CentraPay.
The partnership aims to deliver payments to New Zealand and Australia in 2019 by using Sylo’s decentralised communication app (DApp) and CentraPay’s payment technology.
The firms say Sylo-CentraPay will modernise and simplify how consumers interact at the point of sale (PoS).
Through this tech, the firms say merchants will be able to accept payments and interact with customers via follow up marketing communications and offers.
Sylo-CentraPay can be implemented at “vending machines, within e-commerce shops, and even at parking machines”.
Ben Jordan, product director at Sylo, says: “For a simple night out at a restaurant, and before they even arrive, Sylo users will be able to book a table, pay for transport, and preorder drinks and food. For merchants, it allows them to deliver follow up communications such as specials, discounts or even a simple ‘thank you’ from the restaurant itself.”
The partnership has begun work with a vendor of payment terminals, “to be named later”.
The system will be introduced in Australasia, and subsequently rolled out into greater Asia and other parts of the world.
CentraPay is also working with parties in Japan to bring the solution to vending machines and other internet of things (IoT) devices.