AMC Theaters expands crypto payment options with Dogecoin

The AMC Theaters app now allows you to purchase tickets and concessions using Dogecoin. Adam Aron, CEO of the company, announced the news via Twitter on April 15. After saying in November that it was exploring how to accept cryptocurrencies, the company now supports crypto payments using Bitpay.

In addition to Bitcoin and Ethereum-based payments via PayPal, announced on August 9, 2021, the world’s largest cinema chain, AMC, has also started to accept the Dogecoin inspired by memes as a payment method.

AMC was among the first American movie chains to accept cryptocurrency. Concessions and tickets can be purchased by going through the standard selection process and selecting BitPay as the payment method. Users can select a cryptocurrency wallet to connect to or get an address to which funds can be sent. This decision is a positive development for moviegoers looking for a safe and secure way to purchase tickets. AMC also offers payment methods such as Apple Pay and Google Pay.

AMC teased memecoin-loving moviegoers by offering Dogecoin gift cards last year, which could be used for concession purchases and movie tickets.

Royal partnerships

Regal Cinemas, another well-known American movie theater chain, recently partnered with Flexa, a digital payment company, to accept cryptocurrencies like Bitcoin, Dogecoin, Litecoin, and Ethereum for movie tickets and snacks. , and other purchases. Geminis’ partnership with Flexa has eliminated all of the friction traditionally associated with bitcoin payments. Consumers can then easily open their mobile bitcoin wallet to pay in-store. Newegg began accepting digital currencies in 2014, becoming the first major retailer to accept bitcoin as a method of payment.

Global beverage giant Starbucks also supports crypto payments. You can open their mobile app at Starbucks checkout, transfer bitcoins to the in-app payment method, and pay through the Starbucks app. Instead of allowing Starbucks payment processors to accept bitcoin, they added the ability to pay with bitcoin to their mobile app through a digital wallet called IPayYou. The online payment system provides the merchant with a unique address/link to receive payments when the customer enters the store to purchase an asset with bitcoins. The merchant must then negotiate with the online payment system to accept bitcoin payments.

One of the advantages of using a third-party payment processor instead of a personal wallet is that it can instantly convert cryptocurrencies to fiat, thus sparing the retailer from the effects of any price fluctuations.

AMC responds

In September, Aron took to Twitter to ask fans whether or not they would accept cryptocurrency as payment. The response was overwhelming: 77% of Twitter users said yes, while only 23% were against the idea. The poll drew over 100,000 votes, making it the most read tweet of all time. Now that the facility is open for business, it’s unclear what support it will receive from its audience.

It seems unlikely that AMC will make massive revenue from this integration, given what other organizations (such as Wikipedia) have said about how many people end up paying in cryptocurrency. Still, it might work better than investing in a literal goldmine, which AMC did in an “embarrassingly stupid” move.


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About Matthew R. Dailey

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