Paymentech wins Pepsi-Cola contract
06 December 2004 | 3267 views | 0
Pepsi-Cola North America has awarded a multi-year contract to process credit and debit cards in several hundred vending machines throughout the United States to Dallas-based processor Paymentech.
The deal represents Paymentech's initial foray into the U.S. vending industry.
"This is a new market for us, but one that we definitely see growing in the next few years, as consumers continue to migrate away from cash to paying with plastic, even for smaller purchases," said Scott Cruickshank, Paymentech's Chief Marketing Officer. "Pepsi-Cola North America is clearly on the leading edge of promoting new technologies which will enable the growth of non-cash payments in the vending sector."
Paymentech won the exclusive, multi-year contract to process all credit and debit transactions at Pepsi vending machines in the U.S. that are enabled with cashless vending technology. Currently, Pepsi's bottlers have several hundred machines wirelessly accepting credit and debit cards in high-traffic venues such as malls, convention centers, casinos, and hotels.