Thai movie theater chain starts accepting Bitcoin BCH payments

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Major Cineplex, considered to be the largest movie theater chain in Thailand, is now allowing its patrons to pay for their movie tickets and popcorn with cryptocurrencies like Bitcoin Cash (BCH).

The cryptocurrency payments in the cinema chain was made possible through a partnership with Rapidzpay, a Swiss payment company, according to a Nation Multimedia report. 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 seamless, secure and efficient.”

Major Cineplex has yet to announce identify which cryptocurrency will be accepted. It’s worth noting, 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 owns 678 screens and is looking to expand to 1,000 screens by 2020. On its website, the company lists 143 theaters across Thailand, 43 of which are located in Bangkok. Major Cineplex operates Thailand’s largest multiplex, the Paragon Cineplex at the Siam Paragon, which features 16 screens, 5,000 seats and an Imax theater.

Chanya Tamronweenichai, director of marketing at Major Cineplex Group, was quoted by the Thai news outlet saying, “Rapidzpay will expand to our other businesses and lead the change for Thailand’s financial ecosystem to be cashless.”

Major Cineplex’s crypto integration comes on the heels of the Thai Securities and Exchange Commission (SEC) announcing that it would allow Bitcoin BCH, along with six other cryptocurrencies, to be traded at domestic crypto exchanges. The SEC is the primary regulator of crypto businesses. SEC Secretary General Rapee Sucharitakul noted that “the SEC is (now) open for application approval for operating a digital asset business, as the Finance Ministry’s announcement on digital asset licenses has come into force.”