The AMC Theaters’ app now enables you to pay for tickets and snacks with Dogecoin. Adam Aron, the company’s CEO, revealed the news on Twitter on April 15. After revealing in November that it was studying ways to take cryptocurrency, the firm now allows crypto payments through Bitpay.
In addition to the Bitcoin and Ethereum-based payments through PayPal, announced on Aug. 9, 2021, the biggest theatre chain in the world, AMC, has also begun taking the meme-inspired Dogecoin as a payment mechanism.
AMC was among the first U.S. movie theatre businesses to accept cryptocurrencies. Concessions and tickets may be bought by going through the regular selection procedure and choosing BitPay as the payment option. Uses may pick a cryptocurrency wallet to connect to or acquire an address to which money can be transferred. The move is a great step for movie-goers searching for a safe and secure method to buy tickets. AMC now provides payment alternatives such as Apple Pay and Google Pay.
AMC tempted meme coin-loving customers by introducing Dogecoin gift cards last year, which could be used for concession purchases and movie tickets.
Regal Cinemas, another well-known American chain of movie theatres, has teamed with Flexa, a digital payment firm, to take cryptocurrencies like Bitcoin, Dogecoin, Litecoin, and Ethereum for movie tickets and snacks, and other items. Geminis’ cooperation with Flexa has reduced all the friction normally associated with bitcoin payments. Consumers may then effortlessly access their smartphone bitcoin wallet to pay in the shop. In 2014, Newegg became the first big shop to accept bitcoin as a payment mechanism.
Starbucks, the world’s largest beverage company, also accepts cryptocurrency payments. At the Starbucks checkout, you may launch their mobile app, transfer bitcoin to the app’s payment option, and pay using the Starbucks app. Rather than enabling payment processors to accept bitcoin, Starbucks enabled the opportunity to pay with bitcoin through a digital wallet called IPayYou on their mobile app. When a consumer visits the shop to buy an asset using bitcoin, the online payment system gives the merchant a unique address/link to collect payments. The merchant must next negotiate with the online payment system in order to accept bitcoin payments.
One advantage of employing a third-party payment processor rather than a personal wallet is that the processor may rapidly convert cryptocurrencies to fiat, shielding the shop from the consequences of price volatility.
Aron polled followers on Twitter in September to see whether or not they would take the cryptocurrency as payment. The reaction was overwhelming: 77% of Twitter users agreed, while just 23% opposed the concept. Over 100,000 people voted in the poll, making it the most-read tweet of all time. Now that the facility is operational, it is unclear how much support the facility will get from its intended audience.
Given what other businesses (such as Wikipedia) have mentioned regarding how many users end up purchasing cryptocurrencies, it is doubtful that AMC will receive a large amount of cash from this integration. Nonetheless, it may turn out better than AMC’s “embarrassingly dumb” investment in an actual goldmine.