TL;DR Breakdown
- Regal Cinema adds crypto payment as payment means.
- Regal accepts more crypto tokens relative to AMC Cinemas.
Top American movie theater chain Regal Cinema has joined AMC theatre to add cryptocurrency as a means of payment for movie tickets.
Regal Cinemas announced on Wednesday that it is accepting an array of cryptocurrencies for payments in all of its 514 movie theatres.
The entertainment firm would process crypto payments through Flexa, an app-based digital payments network. Customers can use the app to spend crypto on movie tickets and concessions alike.
The announcement comes on the heels of news that AMC theatre added crypto as a means of making payment. Recently, Adam Aron, AMC theatre CEO, announced that crypto payments account for 14 percent of their online transactions.
Regal Cinema open to more crypto coins than AMC
Regal Cinema accept far more crypto coins for payment than AMC Cinemas, including Bitcoin, Ethereum, Dogecoin, and Litecoin, plus stablecoins like USDC, DAI, and Gemini Dollar (GUSD). It also includes tokens like the Basic Attention Token (BAT), Cosmos (ATOM), Chainlink (LINK), and others.
Reportedly, Regal is also planning to add rewards functionality for its Regal Crown Club loyalty program members. The entertainment firm is also looking at bringing further crypto payment options in the future, potentially including Bitcoin’s Lightning Network.
Also, just like Regal has tapped Flexa to help process its crypto payment, a number of other notable retailers, including Whole Foods, Baskin Robbins, Bed Bath & Beyond, among others, also use the digital payment network to process their crypto payment.
“This exciting partnership enables us to easily and seamlessly accept digital currencies – including dogecoin, stablecoins, and bitcoin – across our theatre footprint in a simple and completely contactless way,” Regal Chief Marketing Officer Ken Thewes said.
Regal Cinemas is a top-tier movie theater chain headquartered in Knoxville, Tennessee. A division of Cineworld, Regal operates the second-largest theater circuit in the United States, with over 7,200 screens in 549 theaters as of October 2019.
