Israeli company SuperCom, which develops smart card and electronic ID technology solutions, announced it was selected by Pepsi to provide the American soft-drink giant with its Vend-EZ system for vending machines.
SuperCom will install the system in approximately 40 percent of Pepsi's vending machines across the United States. Pepsi has 2.4 million machines in the country, and the installment of each individual system will cost USD 400.
The Unterberg investment house has estimated the deal's value at hundreds of millions of dollars.
The Vend-EZ system is based on a hardware and software solution installed in the vending machines, and on smart cards that enable costumers to purchase drinks without using cash.
The smart card can also be used for purchases in university shops, hospitals, hotels, and other venues. The card can also be used as a secure ID.
The SuperCom system was approved for use after being tested for a year and a half by Pepsi in vending machines in the Chicago area.
The trial period showed that vending machines using the Vend-EZ application produced higher sales and were cheaper to maintain.
Innovative technology, growing market
SuperCom CEO Avi Avi Schechter said: "In the last year and a half we have focused on developing an effective solution for this expanding market. We managed to establish a strong synergy between identification technologies, which are our expertise, and innovative payment technology."
"We believe that this field will become one of our major markets, and an important growth engine in the next five years," he said.
SuperCom was founded in 1998. the company's headquarters are located in Kefar-Saba, north of oTel Aviv, and it maintains offices in the United States and Hong Kong.
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