Honda Clarifies Crypto Payment Policy
In response to recent reports claiming that Honda now accepts cryptocurrency as payment, the automobile manufacturer has clarified that it does not directly accept crypto payments for its cars. According to a spokesperson for Honda, the reports are incorrect, and the company currently does not have plans to integrate cryptocurrency payments in the future.
Using Crypto Payment Platforms
While Honda does not accept crypto payments, customers can still purchase Honda cars using cryptocurrencies like Bitcoin through third-party platforms. One such platform is FCF Pay, which allows users to buy cars from various car manufacturers, including Mercedes, BMW, Ford, Nissan, and Mitsubishi, using crypto.
Settlement through Payment Aggregator
Payments made on FCF Pay are settled through a payment aggregator, utilizing the same payment infrastructure used for cash transactions. Joseph Parkin, the COO of FCF Pay, explained that crypto acts as digital cash or the cash of the internet in this payment flow. Currently, only companies that are part of FCF Pay's bill payment aggregation system are available for crypto payments.
Expansion Plans
At present, FCF Pay's service is only available in the United States. However, the company is working with additional partners to expand its crypto-to-fiat bill settlement services to Mexico, several Latin American countries, multiple African nations, and Asia. FCF Pay aims to onboard companies of all sizes and sectors for direct crypto payments and hopes that governments worldwide will recognize the benefits of facilitating crypto payments for businesses.
No Partnership with Honda
Although FCF Pay allows customers to pay with cryptocurrency, the company has not entered into a partnership with Honda or any other car manufacturers to enable crypto payments for car purchases. Instead, the companies listed on FCF Pay's system receive fiat currency through their payment aggregator partner.
FCF Pay's Struggle with Social Media
FCF Pay recently faced challenges when its account on the social media platform X (formerly known as Twitter) was suspended. The COO, Joseph Parkin, attributed the suspension to false accusations made by other news sources. Parkin suggested that the suspension might have been an attempt by competitors or other communities to harm FCF Pay's reputation. Despite the setback, FCF Pay is in the process of rebranding and plans to release a mobile app at the end of the year.
