KANALCOIN NEWS – Large car manufacturer Honda does not accept cryptocurrency payments directly. But buyers who want to use crypto can use cryptocurrencies such as Bitcoin to buy Honda cars through third parties.
There was an erroneous publication circulating regarding the payment for purchasing a Honda in October. In this publication, it was stated that Honda accepts crypto as a means of payment for purchasing Honda products. However, this was directly denied by a spokesperson for the company who told Cointelegraph.
“American Honda does not accept cryptocurrency as payment. Recent reports regarding this policy change are incorrect.”
Honda did not respond to additional questions regarding its stance on crypto. Regarding whether the company plans to integrate cryptocurrency payments in the future.
Direct payment for car purchases with crypto is not available. But if buyers still want to use crypto, they can use third party services. Such as cryptocurrency payment platforms such as FCF Pay for buying Honda cars.
According to FCF Pay chief operating officer Joseph Parkin, Honda is not the only car brand that can be purchased using crypto on the platform.
“There are more automakers on the list, including Mercedes, BMW, Ford, Nissan and Mitsubishi,” Parkin told Cointelegraph in early October.
Parkin said that payments on FCF Pay are completed by payment aggregators through the same payment channels that allow someone to pay in cash at a bank branch. Apart from that, Parkin also added that currently only companies that are part of the bill payment aggregation system implemented by FCF Pay are available.
“In the case of these payment flows, crypto really acts as digital money or internet money,” Parkin said.
This service is currently only available in the United States. However, FCF Pay is working with additional partners to perform crypto-to-fiat bill settlement in Mexico, several Latin American countries, several African and Asian countries, according to the executive.
The bill payment system became operational in September 2023, allowing one to purchase products using coins such as Bitcoin, Ether, XRP, Tether, USD Coin and others for a fee of $3 plus 2%. The aim is to be able to open the eyes of many parties that crypto makes many transactions easier.
The executive also emphasized that FCF Pay has not yet entered into a partnership with a company like Honda to enable crypto payments for Honda cars.
Parkin said his company was accused of claiming partnerships with companies in Honda’s bill payment system. even though it is actually trying its best to dispel this misunderstanding from other news sources.
“The good news is that we are actually in the process of rebranding ahead of our mobile app launch later this year. We may accelerate the process of switching to a new brand if FCF Pay accounts are not unblocked soon,” Parkin said after X FCF Pay experienced numerous “bot-like interactions” in the days before the suspension.
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