BTC Wires: Major Cineplex, which is Thailand’s largest movie theater will now offer customers the provision to pay for their services in cryptocurrency. With the new regulations being introduced by Thailand’s Securities and Exchange Commission, the country is moving towards innovations and exciting developments in the digital currency sector. Just this week the Thai SEC has started taking in license applications from crypto operators.
Major Cineplex, which currently hosts 143 theaters across the country, is well on its way to building a crypto payment ecosystem in collaboration with Rapidzpay, which is a Swiss payment company established in 2017. The group is undertaking a significant expansion campaign and plan to have more than 1000 screens by 2020.
To this effect, a Memorandum of Understanding has been signed between Major Cineplex and Rapidzpay at Blu-O Rhythm & Bowl at Siam Paragon, which is also one of the venues of the multiplex giant. Rapidzpay has, through their decentralized blockchain platform, offered corporate and personal payment solutions for a lot of customers.
This new development would witness merchants accepting both fiat currency and cryptocurrency via Rapidzpay’s point-of-sale system. The crypto payments will be merged with established payment gateways to facilitate the option of paying in crypto. Currently, the coins supported Rapidzpay apps for both iOs and Android include BTC, BCH, and LTC, however, Major has not yet revealed if it will just accept these coins or will make room for more.
Chanya Tamrongweenichai, the director of marketing at Major Cineplex Group, said that
“Rapidzpay will expand to our other businesses and lead the change for Thailand’s financial ecosystem to be cashless.”
It is clear that now the group will offer customers the option of paying for tickets, popcorns, and other services via crypto, but the public is still unsure as to when the group will establish this new system of payments.