Thailands Largest Cinema Chain Now Accepts Payments Made With Bitcoin

Thailand’s largest Cinema chain, Major Cineplex Group has announced it will now begin accepting payments for its services through Bitcoin. Per the news, published by local news channel Siamrath, the company is welcoming this initiative in a bid to support the growing trend in the digital payment ecosystem.

The BTC payment provision is in collaboration with Zippex (ZIPMEX), Thailand’s leading digital asset exchange platform, and RapidZ (RAPIDZ), the leading digital asset exchange management system provider in Southeast Asia. The trio’s BTC payments initiative is already underway, beginning yesterday, March 4th, 2021.

In getting started, Major Cineplex customers are to download Rapidz, an application that can store digital currencies for use in various services via Rapidz’s system, including the redemption of cash for tickets. 

Through the app, users can pay for movies at E-Ticket vending machines by clicking on the movie and seat position you want, then choose E-Wallet and select Rapidz, After choosing to use with Rapidz, there will be a QR Code on the screen for customers to scan Digital currency exchange for movie tickets, after pressing confirm, the kiosk will print out an E-Ticket and customers can use it to watch movies immediately.

Mr. Wisara Chokdeetaweanan Marketing Director of Rapidz Technologies commented on the innovation saying;

“We believe that the exchange of goods and services with digital assets is one of the most broad and clear use cases. It will also help businesses and enthusiasts to leverage the use of cryptocurrencies to further their existing business activities with the hot and exciting trend of cryptocurrencies,” a move that he believes will trickle down to other countries around the world as well.

The Evolution of Crypto Payments is Rising

The use of digital currencies as a means of settling transactions or payments is beginning to gain massive momentum, particularly with the likes of Tesla, declaring readiness to begin accepting payments in Bitcoin.

The trend of settling transactions through digital currencies took a new twist when London listed firm, Argo Blockchain revealed it will begin paying its Chief Executive Officer’s salary in Bitcoin. A similar payment alternative according to the firm can be opted into by other staff members.

Payment with cryptocurrencies amongst many things offers people the opportunity to interact with the emerging payment systems, in a decentralized peer-to-peer manner. The flexibility crypto offer will continue to gain traction as more mainstream firms embrace the alternative of accepting payments in digitized currencies.