Thailand’s largest movie theaters’ management firm, Major Cineplex has recently relieved that it will be accepting bitcoin [BTC] as a mean of payment for movies. It was unveiled that to make this goal a reality, Major Cineplex will be working alongside a Swiss-based payment systems’ provider, Rapidzpay to integrate the necessary schemes.
Major Cineplex is very popular in Thailand, as it is responsible for nearly 140 theaters. As per Forbes’ report in May 2017, the theater management firm owns “678 screens including 7 in Cambodia and 9 in Laos”. A payment system that accepts digital assets seems to fit into Major Cineplex’s endeavors, as the firm plans to expand the number screens by almost double of what it currently houses.
According to news.Bitcoin.com, Rapidzpay uses a “point-of-scale system”, which accepts the likes of cryptocurrencies and traditional money. Rapidzpay’s involvement in Major Cineplex’s endeavors will supposedly be imperative, as the former’s payment systems’ will be found in all of the latter’s products, making its services, “more seamless, secure and efficient”.
While it is evident that BTC will be one of the major cryptocurrencies accepted as a payment, Major Cineplex has yet to uncover which other digital assets will make the list. For the time being, news.Bitcoin.com assumes the likes of Bitcoin Cash [BCH] and Litecoin [LTC] as being possible options, as the Rapidzpay’s system accepts all three.
The Marketing Director of Major Cineplex, Chanya Tamrongweenichai strongly believes that Rapidzpay’s contribution will make a significant difference within the movie theater industry as well as calling them the foundation of “change for Thailand’s financial ecosystem to be cashless.”
Tamrongweenichai also shares the different services that its business will provide in exchange for the digital assets, which include “movie tickets, popcorn and other different products.”
This is great news, as Thailand’s Securities and Exchange Commission (SEC) made the announcement in June 2018, that it will recognize seven cryptocurrencies – adding that the chosen seven can be integrated into one’s business. News.Bitcoin.com expressed that the ones that made Thailand’s list includes BTC, ETH, BCH, ETC, LTC, XRP and XLM.