AMC Theatres Expands Cryptocurrency Use, Acceptance

AMC Theatres Sept. 16 disclosed it would expand acceptance of the controversial Internet-based currency for online ticket and concession purchases. AMC in August announced it would begin accepting Bitcoin by the end of the year.

In a social media post, CEO Adam Aron said the movie chain, the world’s largest theatrical exhibitor, would include additional forms of crypto currency. The chain also accepts Apple Pay and Google Pay.

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The chain is joining a growing number of companies receptive to alternate forms of digital payment such as cryptocurrency, which tout lower transaction fees than credit and debit cards, in addition to wider appeal among tech-savvy consumers. Critics contend that with few government controls, cryptocurrency remains a confusing and mysterious form of tender that can be fraught with risk and manipulation.

With business transactions verified and recorded by a decentralized system using cryptography, rather than by a centralized authority (i.e. U.S. Treasury), cryptocurrency uses digital ledgers, or blockchains distributed across a network of computer systems.

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