AMC Theatres Launches Branded Credit Card

AMC Theaters, the country’s biggest movie theater chain, is launching a credit card.

The AMC Entertainment Visa Card, coming in early 2023, will offer its holders the opportunity to earn additional AMC Stubs rewards points at the movies and on everyday purchases. Per AMC, it’s the only co-branded movie theater credit card in the United States.

The announcement is AMC’s latest unusual attempt to expand its business outside of the box office as the movie theater business struggles to recover from COVID. After evading bankruptcy and embracing its status as a meme stock last year, AMC invested in a Nevada-based gold and silver mining company and announced plans to sell popcorn in shopping malls around the country. Most recently, the company partnered with Zoom to allow audience members to video chat from the comfort of their local multiplex.

“The AMC Entertainment Visa Card is another example of AMC’s continued dedication to providing real value to moviegoers and strengthening the relationship we have with our loyal moviegoing guests,” says AMC’s CEO Adam Aron. “Until now, the theatrical exhibition industry is one of the few untapped major retail sectors that hasn’t offered consumers the opportunity to amplify their purchase power, accelerate their rewards, and demonstrate their loyalty through the use of a co-branded credit card. With a built-in customer base of tens of millions of existing AMC Stubs members, we know there are avid moviegoers who will benefit greatly from using their AMC Entertainment Visa Card at the movies and for their everyday purchases.”

As part of the perks, new cardholders who spend $50 in their first three months will earn $50 in AMC Stubs Bonus Bucks, which can be used at all domestic AMC locations and online. The AMC Entertainment Visa Card is only available to AMC Stubs members. There will be a waitlist to sign up when the card launches in 2023.

Aron was frank in saying he hopes the collaboration seems splashy to the company’s shareholders.

“There also is another extremely important constituency for whom we care greatly, and who will find the AMC Entertainment Visa Card to be of compelling appeal: AMC’s millions of enthusiastic and passionate shareholders,” Aron added. “This new AMC Entertainment Visa Card was certainly designed with them in mind.”

AMC partnered with fintech company Deserve to power the card.

“At Deserve, we want to help our branded card partners craft meaningful rewards and point programs that really speak to value for their customers and give them the technology platform that allows them to quickly and securely launch any type of credit card product in the cloud, customized to their specific audience,” said Kalpesh Kapadia, co-founder and CEO of Deserve. “Partnering with AMC to launch this card tailor-made for movie fans is a perfect example of this commitment.”

Read More About:

Source: Read Full Article