MovieCoin, Paytomat Partner For Merchant ECommerce Dealbr>
MovieCoin, the financial technology company leveraging blockchain, smart contracts and digital assets to create a new currency for entertainment industry financing, business transactions and consumer payments, has partnered with Paytomat, a payments gateway enabling cryptocurrency transactions.
The agreement, scheduled to take effect in the first quarter of 2019, will allow retail merchants and e-commerce businesses registered on Payomat’s blockchain platform to accept Moviecoin (“MOV”) tokens as payment, integrating cryptocurrency payments into their existing point-of-sale systems without needing to invest in new hardware or software. Paytomat further incentivizes cryptocurrency adoption using a built-in loyalty program to reward its users.
“Our new partnership with Paytomat further validates the B2B and B2C use cases for Moviecoin Tokens,” said Christopher Woodrow, Chairman and CEO at MovieCoin. “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 solutions include a multicurrency wallet, a mobile app for merchants, an ID-embedded merchant QR code for smaller dealers and sole traders, as well as the world’s first plugin for accepting cryptocurrency on WordPress. By providing real-time transparency into capital flows and fiscal performance, MOV Token payments help enterprises and consumers alike make better-informed purchase decisions, while also addressing the unique accounting challenges prevalent in Hollywood.
“We are delighted to find a partner in MovieCoin that shares our mission to revolutionize everyday payments using blockchain and tokenization technology,” said Yurii Olentyr, CEO at Paytomat. “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.”
MovieCoin is currently undergoing a MOV Token presale, accepting ether, bitcoin and BANKX (BKX) tokens as payment. Valued at $0.11 each, MOV tokens are being distributed from the Cayman Islands. They are not for sale in the United States or Canada.
The company is also planning a separate MovieCoin Smart Fund (“MSF”) security token offering for accredited investors, pursuant to Regulation D of the United States Securities Act and Canadian National Instrument 45-106 – Prospectus Exemptions, which will take place in early 2019.
MovieCoin has operations spanning content finance and production, business and consumer services and technology development and licensing. MovieCoin’s content finance and production businesses offer programmatic ownership of filmed entertainment assets to financial investors seeking institutionalized exposure to premium content, while its digital assets platform provides businesses with innovative solutions to streamline operations and entertainment enthusiasts with unique and more engaging ways to participate in the movie experience.
MovieCoin was founded in 2017 by Christopher Woodrow in partnership with BANKEX and has offices in Vancouver, British Columbia and Santa Monica, California.