Thailand’s largest movie theater chain, Major Cineplex, has announced its decision to allow customers to pay in cryptocurrencies.
As part of this latest move, the company will now offer movie-goers with the chance to pay for everything from popcorn to tickets using a host of digital currencies including big names such as Bitcoin.
The project is being deployed in conjunction with Swiss fintech developer RapidzPay, and will allow Major Cineplex to integrate cryptocurrency payments into their point-of-sale (PoS) machines.
More about the deal
Using RapidzPay’s new digital wallet, cryptocurrency holders will have complete freedom to make ticket purchases via cryptocurrencies as well as Thailand’s local currency, ‘baht’.
It is also worth noting that Major Cineplex currently owns 678 screens across Thailand including 7 in Cambodia and 9 in Laos. Not only that, Forbes recently released a news story which claimed that the company was planning to expand its operations by scaling up their number of screens to 1,000 by the start of 2020.
Earlier today, Chanya Tamrongweenichai, Director of Marketing for Major Cineplex, released a statement saying:
“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.”
Final Take
All of the aforementioned developments are coming at a time when the Thai government is looking to actively integrate cryptocurrency, blockchain and other similar technologies into its legal framework. For example, earlier this year in March, the Governor of Thailand’s Central Bank made it clear that his government was actively working to create a “comprehensive legislative framework” so as to encompass cryptocurrencies in the smoothest manner possible.
With that being said, it now remains to be seen how the future of digital currencies plays out within this small SE Asian nation.
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