But if it's crypto, that needs to be part of the equation.” “The merchants and the billers really need to meet the consumers where they are, and if that's a credit card, great. “Consumer choice drives the boss and them wanting to have an omnichannel approach to payments,” BitPay COO Jim Lester told PYMNTS Karen Webster in a recent interview. The $69 million NFT collage sold at auction by Christie’s last year was priced in ether, for example. Most of those live on the Ethereum blockchain, and their transactions are made with ether. That said, the use of ether, the cryptocurrency of the Ethereum blockchain, has grown dramatically since it gained a higher profile in 2021 with the boom in decentralized finance, or DeFi, and NFT projects. He attributed the gain partly to the growing use of stablecoins for business-to-business payments across international borders. That’s down from 92% bitcoin in 2020, BitPay Chief Executive Officer Stephen Pair said. The remaining 3% comes from a trio of smaller cryptocurrencies BitPay began supporting in 2021: early bitcoin competitor litecoin (LTC), Tesla CEO Elon Musk’s favorite dogecoin, or DOGE, and its spinoff shiba inu, or SHIB. Stablecoins like tether, or USDT, and Circle’s USD Coin, also known as USDC, are closing fast, representing 13% of the payments run through BitPay, Bloomberg reported. Nearly one third of the payments processed by crypto-focused BitPay are made with ether, stablecoins and a handful of smaller, so-called altcoins.Įther now accounts for 15% of the payments made on BitPay, which provides technology to allow merchants to accept cryptocurrencies at the point of sale, as well as a Mastercard-branded debit card that lets consumers spend a number of cryptocurrencies at millions of retailers. More than two-thirds voted yes.As merchants and consumers become more familiar with cryptocurrencies and the number of ways to use them commercially expands, bitcoin is losing its dominance as the payment coin of choice. Aron tweeted a poll, asking whether they would use DOGE to make purchases at AMC. After the announcement, social media erupted with Dogecoin fans demanding the meme cryptocurrency be accepted as well. The company first started accepting crypto payments back in November, which allowed customers to purchase movie tickets online using Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH) and Litecoin (LTC). While delayed, the company delivered, appeasing the impatient Dogecoin fans. ![]() Its plans to begin accepting crypto were announced in August, however, it wasn’t until January 6, 2022, when the CEO of AMC Theatres, Adam Aron, promised users via a tweet to include meme tokens DOGE and SHIB by March. can update the latest version of the AMC Theatres’ iOS and Android mobile apps to use crypto payments via integration with BitPay.ĭogecoin was accepted by AMC Theaters in October 2021, but only through digital gift cards (up to $200 per day). In the tweet, Aron revealed that customers in the U.S. To do so, you first will need to update to the latest version of our app. theatres now accepts online payments using Doge Coin, Shiba Inu, and other crypto currencies - thanks to Bitpay. Exactly as promised, the AMC mobile app for AMC’s U.S.
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