Thai movie theater chain begins accepting Bitcoin BCH payments

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Major Cineplex, considered Thailand’s largest movie theater chain, now allows customers to pay for movie tickets and popcorn with cryptocurrencies like Bitcoin Cash (BCH).

Cryptocurrency payments in the cinema chain were made possible through a partnership with Rapidzpay, a Swiss payment company, according to a Multimedia Nation report. The Rapidzpay point of sale system can be used by merchants to accept cryptocurrencies as well as fiat currencies. According to the report, “Major and Rapidzpay will integrate cryptocurrency payments into established payment gateways to make payment for major products and services more transparent, secure and efficient.”

Major Cineplex has yet to announce which cryptocurrency will be accepted. It should be noted, however, that the Rapidzpay app, available on iOS and Android, supports cryptocurrencies like Bitcoin BCH, BTC, and LTC.

Founded in December 1995, Major Cineplex currently has 678 screens and plans to grow to 1,000 screens by 2020. On its website, the company lists 143 theaters across Thailand, of which 43 are located in Bangkok. Major Cineplex operates Thailand’s largest multiplex, Paragon Cineplex at Siam Paragon, which has 16 screens, 5,000 seats and an Imax theater.

Chanya Tamronweenichai, Marketing Director at Major Cineplex Group, was quoted by Thai media: “Rapidzpay will expand to our other businesses and lead the change to make Thailand’s financial ecosystem cashless.

Major Cineplex’s crypto integration follows Thailand’s Securities and Exchanges Commission (SEC) announcement that it would allow Bitcoin BCH, along with six other cryptocurrencies, to be traded on national crypto exchanges. The SEC is the primary regulator of crypto companies. SEC Secretary General Rapee Sucharitakul noted that “the SEC is (now) open to approving applications to operate a digital asset business because the finance ministry’s announcement on licensing of digital assets came into effect “.

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