Thai’s Famous Theater Chain to Accept Cryptocurrency Payments

The biggest movie theater chain in Thailand, Major Cineplex, is thrilled to announce that it will accept cryptocurrency as payments.

Major Cineplex, a Bangkok-based theater operator, has announced it will support cryptocurrency transactions, beginning with the purchase of tickets to popcorn. Bitcoin (BTC) and several other altcoins are to be supported.

To accomplish this project, the company signed a partnership agreement with Swiss fintech company RapidzPay, that will invest in the development of a new digital payment system. The next step will be represented by the installation of several point-of-sale (PoS) machines within theaters, reported The Nation.

The signing ceremony between RapidzPay and Thailand's Major Cinema Group. We are excited to work with our new partner, Major Cinema Group, to open more doors of opportunities! To the future and beyond! #MAJOR #Thailand #partnership #cryptocurrency #payment pic.twitter.com/1ttQZ6wlCD

— RAPIDZ (@Rapidz_io) July 4, 2018

To benefit from the new service, cryptocurrency holders should transfer their payments to RapidzPay’s digital wallet using a mobile application or they can easily use the company’s PoS platforms that accept crypto assets as well as national currency baht.

With 678 screens, Major Cineplex is the largest theater operator in Thailand, counting 7 screens in Cambodia and 9 in Laos. The company plans to install another 1,000 screens by 2020, as reported by Forbes. The owner of the theater chain, Vicha Poolvaraluck, is also known for the founding of McThai- the firm that licensed all of McDonald’s restaurants in Thailand, currently in number 250.

Major Cineplex’s director of marketing Chanya Tamrongweenichai claimed:

“With RapidzPOS and the RapidzPay mobile app, you’ll be able to buy any services and products from us, such as movie tickets, popcorn and other different products with cryptocurrency.”

The collaboration between RapidzPay and Major Cineplex comes in less than a month after the Swiss company announced the opening of a new office in Bangkok.

RapidzPay Bangkok office is now open for business! #cryptocurrency #Thailand #BANGKOK #opportunities #futuretech pic.twitter.com/2RoKhQS5LP

— RAPIDZ (@Rapidz_io) July 4, 2018

RapidzPay marks a database of one million active users in Thai during the first year of activity, following the release of its crypto wallet that allows customers to store, trade, and convert crypto assets and fiat currencies.