AMC to accept Apple Pay by 2022

Longtime Apple Pay holdout AMC is changing its tune on digital payments after being saddled with more than a year of sagging revenue, thanks in large part to the COVID-19 pandemic.

Variety reports AMC has revealed that it is working on systems to support Apple Pay/Google Pay during its quarterly earnings call. The rollout for Apple Pay/Google Pay is expected to start in 2022.

The biggest American movie theatre chain now accepts bitcoin to pay for tickets and concessions. Young investors can back the company as a meme stock.

Apple Pay is currently not available for tickets and concessions. This scenario is possible because AMC manages both ticket and concessions and has expanded bitcoin support.

AMC faces a dramatic drop in profits because of the COVID-19 pandemic, which kept theatergoers away for more than a year. CinemaSafe reports that most states are now fully operational. However, a rise in delta variant cases may prompt a lockdown.

In December, Warner Bros. shattered AMC’s hopes of quick recovery when it announced that it would temporarily suspend its theatrical window for 2021 in response to an increase in COVID-19 cases.

AMC’s 2nd quarter revenue was $444.7 million, which decreased from the $1.5 billion recorded in the same period last year.

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Peter Graham
Peter Grahamhttps://fix-iphones.com
Hi there! I'm Peter, a software engineer and tech enthusiast with over 10 years of experience in the field. I have a passion for sharing my knowledge and helping others understand the latest developments in the tech world. When I'm not coding, you can find me hiking or trying out the latest gadgets.

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