Civic Pay app uses blockchain for automated retail, smart vending
Civic Network announced it will release its Civic Pay app to enable partners to combine identity verification, payment and rewards into a single transaction. The company has also announced 12 automated retail partners: AAEON, AR Systems, Fastcorp Vending, Global Vending Group, greenbox Robotics, Invenda, IVM, IVS, Retail Automated Concepts, SandenVendo, The Venders and Wemp, according to a press release.
The Civic Pay app will bring blockchain-powered innovation to the industry with simple access to age-gated products, an improved user experience and personalized rewards.
By integrating the Civic Pay app with automated retail solutions and smart vending machines, these partners will introduce the first real-world, Civic Pay use cases, where people can prove identity and pay for a product in a single transaction. Together, these companies represent over 1 million connected vending machines.
Combining identity with payment will further advance Civic partners' automated retail solutions and expand vending opportunities for a growing market. Currently, there are over 3 million connected vending machines globally, a number expected to grow to 5.4 million by 2022, according to Berg Insight.
Most transactions require some form of identity verification and building identity verification into payment functionality simplifies that process. Vending machines make digital identity accessible and give people the ability to experience new technology. In addition, with the Civic Pay app, once users are verified, they are able to use the same verification over and over again, further streamlining the identity and payment process.
"Vending machines represent an introduction to the mass market, where people can see how digital identity functions in the real world, as well as opening up an entirely new market for automated retail," Vinny Lingham, Civic CEO and co-founder, said in the press release.