According to Marketing magazine, the drinks manufacturer is currently in talks about bringing vending machines that use Near Field Communications to the capital in time for the start of the competition in 2012.
Situated within the Olympic park, they would allow people to use their mobile phones to grab a can of Coke from the machines without having to root around in their pockets for change.
“The technology is already available today and we are in conversation … over the Olympic park and how it would work,” said head of Olympics Coca-Cola Great Britain James Eadie.
Coca-Cola already makes use of vending machines with contactless payment in Belgium and Luxembourg.
Back in August, a study commissioned by Visa Europe found that 58 per cent of people prefer contactless payments over cash or card transactions when they need to make a purchase in a hurry, the Daily Telegraph reported.