VRSN: VeriSign Enables Coca-Cola Vending Machine Purchases via Mobile Phones

VeriSign, Inc. (Nasdaq: VRSN), the leading provider of intelligent infrastructure for the networked world, announced a deal to enable purchases at Coca-Cola vending machines via mobile phones in Austria. Now, over two million mobilkom austria and ONE wireless customers have access to the mobile payment function at vending machines across Austria.

“As consumers are growing increasingly dependent upon mobile devices, mobilkom austria and ONE recognized an opportunity to provide compelling services that make everyday activities like buying a soda from a vending machine even more convenient,” said Jeff Treuhaft, senior vice president, Digital Content Services, VeriSign. “We look forward to extending this cutting-edge mobile service and added functionality to wireless users around the world.”

Making purchases by mobile phone is becoming increasingly popular around the world. According to the Yankee Group’s August 2006 report titled, "Mobile Phones Transform into Mobile Payment Devices," the global revenue for off-deck mobile payment transactions will rise dramatically during the next 5 years, increasing by more than 100% from 2005 to 2009, while the user base also expands from 65.5 million to 178.8 million during the same period. Paying via mobile phone has already achieved some success in Europe and Asia, and the Yankee Group expects the trend to continue as mobile devices become more powerful and consumers use electronic payments for more transactions.

VeriSign developed the technical interface between Coca-Cola machines, cellular operators and the payment system for the more than 100 beverage vending machines around Austria enabled for mobile payment. Developed in Austria, this solution can also be used for vending machines around the world.