Cryptocurrency payments find a way for the entertainment industry as Major Cineplex in Thailand is adapting to the new age currency. As the largest chain of movie theaters, Major Cineplex is in the process of building a customized digital payment platform to accept cryptocurrency in Thailand. As reported by Nation Multimedia, Major Cineplex and Rapidzpay are working together to develop this crypto payment gateway.
As Thailand has given a green signal to crypto operators with a license to trade in cryptocurrency, the Thai and Securities and Exchange Commission has started accepting the applications for procuring the license. Major Cineplex is the largest movie theater chain that was established in 1995. With around 143 theaters across Thailand, the Rapidzpay point-of-sale system will be used at all these theaters to buy movie tickets and popcorn using Bitcoins.
The best feature of Rapidz point-of-sale system is its capability to accept both crypto and fiat payments thereby keeping it flexible and secure at the same time. No spokesperson from Major Group has come forward with this announcement but the Rapidzpay App currently supports Bitcoin, Bitcoin Cash, and Litecoin and we are expecting that these cryptocurrencies in Thailand to be a mode of payment from buying tickets and popcorns in the initial phase. Soon more products and services will be added. Rapidzpay App is available for iOS and Android platform currently.
As the marketing director of Major Cineplex Group believes that Rapidzpay help creates a cashless ecosystem, Major Cineplex will utilize the platform for more services soon.
Currently, Major Cineplex group has 678 screens under its umbrella and are planning to expand the screen count to 1,000 by 2020 across countries likes Cambodia where it owns presently 7 screens and Laos where it holds 9 screens. The other services by Major Cineplex group that will enjoy the cashless payments in the future are luxury good, restaurants, art gallery, concert tickets and more.
With the Thai Securities and Exchange Commission allowing regulated trade of BTC, ETH, BCH, ETC, LTC, XRP, and XLM, the top seven cryptocurrencies in Thailand, the financial ecosystem will undergo a change soon.