Paytomat’s partnering with MovieCoin to allow retail merchants to accept MOV Tokens as payment

Following its partnership with The American Nightclub Association, Paytomat’s MOV-in’ toward the film business. 

Retailers and e-commerce businesses currently registered with  Paytomat will be able to accept MOV Tokens as payment, thanks to the crypto gateway’s recent partnership with  MovieCoin.

MovieCoin is a fintech company that leverages blockchain technology, digital assets and proprietary apps to create a new standard currency for business transactions, consumer payments and financing within the entertainment industry.

According to the company’s website, it lets users instantly purchase movie tickets via on online portal, distributes its platform content through partner cinema chains, and enables quick transfers between parties without needing a wire transfer.

According to a press release shared by Crowdfund Insider, the partnership allows businesses registered with Paytomat to accept MovieCoin (MOV) Tokens as payment, without needing to invest in new hardware or software.

“Our new partnership with Paytomat further validates the B2B and B2C use cases for Moviecoin Tokens.” said MovieCoin CEO and Chairman Christopher Woodrow in the release. “Introducing MOV Tokens to the Paytomat platform will help entertainment industry merchants harness the efficiency benefits of token payments on the same POS systems they’ve been using for several years.”

Paytomat will also drive adoption of the crypto through its built-in loyalty program, which rewards customers with PTX tokens that can be used exclusively for discounts, and rewards merchants with PTM coins, which are an officially registered cryptocurrency.

“We are delighted to find a partner in MovieCoin that shares our mission to revolutionize everyday payments using blockchain and tokenization technology.” added Yurii Olentyr, Paytomat CEO. “By simplifying the adoption process for businesses and consumers alike, working relationships like these will help the real economy realize cryptocurrency’s potential as a more effective global payment system.”

According to the release, MovieCoin is currently running a presale for its MOV Token, though only Ethereum, Bitcoin and BANKEX are currently being accepted as payment.

Image: Bigstock

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