The Nation Multimedia reported recently that a digital payment ecosystem is being built by the largest operator of movie theaters in Thailand via a partnership with Swiss payment company Rapidzpay.
Major Cineplex, as the name is, was founded in December 1995. The complex currently lists 143 theaters in Thailand on its website. 43 out of the 143 are located in the greater Bangkok area. Forbes reported in May 2017, that the group owns “678 screens, including 7 in Cambodia and 9 in Laos, and plans to expand to 1,000 screens by 2020.”
Paragon Cineplex is one of the group’s properties in Thailand largest multiplex. It is located in one of Bangkok’s most prestigious shopping malls dubbed the Siam Paragon and comprises 16 screens, 5,000 seats, and an Imax theater. The particularity of the Siam Paragon is its facilities which include luxury goods, floors of restaurants, aquarium, art gallery, a large bowling alley, a karaoke center and a concert hall. Major Group and Rapidzpay signed their partnership agreement at the Paragon Cineplex.
According to the Nation that Rapidz point-of-sale system can be made use of by merchants to accept cryptocurrencies as well as fiat currencies. “Major and Rapidzpay will integrate cryptocurrency payments into established payment gateways to make payment for Major products and services more seamless, secure and efficient.”
Even though Major Group has not announced yet which of the cryptocurrencies will be accepted, we want to believe that it is going to be either BTC, BCH or LTC (which are among the seven cryptocurrencies allowed in the country by the SEC, as announced last month), as those are the coins currently supported in both the iOS and Android Rapidzpay apps.
The director of marketing at Major Cineplex Group, Chanya Tamrongweenichai, said as quoted by the Nation that the group believes “Rapidzpay will expand to our other businesses and lead the change for Thailand’s financial ecosystem to be cashless,” noting: “You’ll be able to buy any services and products from us, such as movie tickets, popcorn, and other different products with cryptocurrency.”