As it seeks to reduce the number of coins and notes consumers pop into its vending machines, the Coca-Cola Co. is counting on more consumers to pay for their bottles of Coke with cards and mobile phones in coming years.
The soft drink giant, which is participating in the trial of the Isis Mobile Wallet and earlier helped promote the launch of Google Wallet, predicts mobile payment will account for 5% to 10% of transactions at the company’s U.S. vending machines by 2017, and that figure will increase to 10% to 20% by 2020, said consultant Rick Kanemasu, who heads Coca-Cola’s vending technology strategy.
Mobile payment will “grow slowly over time,” he predicted.