Regal Entertainment Group Casts MasterCard PayPass in Starring Role As New Payment Option for Movie Fans
Purchase NY, April 25, 2005–Regal Entertainment Group [REG, NYSE: RGC], the largest movie theatre operator in the world, today announced that they will be the first movie theatre circuit to accept MasterCard® PayPass™ at Regal Cinemas, United Artist Theatres and Edwards Theatres throughout the United States. MasterCard PayPass is currently accepted at participating United Artists Theatres in New York City with an expanded, national roll-out to other REG theatre locations to be completed by the summer of this year.
“We continuously seek new opportunities that enhance our customers’ experience when going to the movies,” stated Cliff Marks, president, marketing and sales, Regal CineMedia. “With an innovative payment solution like PayPass, we can deliver added convenience, flexibility and improved service to our customers while at the theatre.”
To purchase a ticket or concession at a Regal Entertainment Group cinema, MasterCard PayPass cardholders simply tap their PayPass-enabled MasterCard card on a specially equipped terminal that utilizes a radio frequency chip to complete the transaction. Payment is completed quickly and easily without the hassle of swiping a card, fumbling for cash, or signing a receipt. Moments after the cardholder taps their PayPass-enabled MasterCard card, account details are communicated to the terminal and then processed through the MasterCard network for clearing and settlement.
“With MasterCard PayPass, movie-goers are afforded the convenience, speed and ease of use that is inherent to this contactless payment option,” said Fred P. Gore, senior vice president, North America Acceptance, MasterCard International. “We are pleased to expand our relationship with Regal Entertainment Group by bringing PayPass ‘to a theatre near you’, and again, offering MasterCard PayPass cardholders another great location to ‘tap and go’.”
For more information about MasterCard PayPass visit http://www.paypass.com
About Regal Entertainment Group
Regal Entertainment Group (NYSE:RGC – News) is the largest motion picture exhibitor in the world. The Company’s theatre circuit, comprising Regal Cinemas, United Artists Theatres and Edwards Theatres, operates 6,273 screens in 558 locations in 40 states. Regal operates approximately 18% of all indoor screens in the United States including theatres in 43 of the top 50 U.S. markets and growing suburban areas. The size, reach and quality of the Company’s theatre circuit not only provides patrons with a convenient and enjoyable movie-going experience, but is also an exceptional platform to realize economies of scale in theatre operations and, through Regal CineMedia, develop new sources of revenue and cash flow by utilizing Regal’s existing asset base.
About Regal CineMedia
Regal CineMedia is a wholly owned subsidiary of REG, focusing on the expansion and development of advertising and new uses for REG’s theatre assets, while at the same time enhancing the movie-going experience. Regal CineMedia operates other divisions that focus on business meetings, corporate communications, interactive education and special productions in a theatre environment, including the presentation of entertainment, music and sports events, as well as the sale of group tickets and gift certificates.