Major automaker Honda does not accept cryptocurrency payments directly, but Honda cars can be purchased through third parties using cryptocurrencies such as Bitcoin (BTC).
In early October, multiple publications incorrectly reported that Honda began accepting cryptocurrency as a form of payment. But a Honda spokesperson told Cointelegraph that Honda does not allow people to buy its cars with cryptocurrency, saying:
“American Honda does not accept cryptocurrency as a form of payment. Recent reports regarding this policy change are incorrect.”
Honda did not respond to other questions about its stance on cryptocurrency or whether the company plans to integrate cryptocurrency payments in the future.
Although Honda cars cannot accept direct crypto payments, people can still buy Honda cars using cryptocurrency payment platforms such as FCF Pay.
Joseph Parkin, chief operating officer of FCF Pay, said Honda is not the only car brand that can be purchased with cryptocurrency on the platform. “There are many more carmakers on the list, including Mercedes, BMW, Ford, Nissan and Mitsubishi,” Parkin told Cointelegraph in early October.
According to the chief operating officer, payments on FCF Pay are settled by payment aggregators through the same payment methods as cash payments at bank branches. “Cryptocurrencies really act as digital cash or online cash in terms of this payment process,” Parkin said. He added that it is currently only available to those companies that are part of the bill payment aggregation system deployed by FCF Pay.
The service is currently only available in the United States. However, the executive said that FCF Pay is working with other partners for crypto-to-fiat bill settlement in Mexico, several Latin American countries, multiple African countries and Asia. The bill payment system will go live in September 2023, and users can purchase products using tokens such as Bitcoin, Ethereum (ETH), XRP (XRP), Tether (USDT), USDC (USDC), etc. for a fee of $3 plus 2 %cost of.
“Our goal is to make crypto payments directly accessible to companies and businesses of all sizes and across all industries, and we hope governments around the world will soon recognize the benefits of making it easier for companies to accept crypto payments,” Parkin said.
The chief operating officer also emphasized that FCF Pay has not yet established partnerships with companies such as Honda to provide crypto payments for Honda vehicles. “Our system allows customers to pay with cryptocurrency, but the nearly 21,000 companies on the system receive fiat currency through our payment aggregation partners,” Parkin noted.
The news comes as FCF Pay works to restore its page on X (formerly Twitter) after its account was stolen. pause On October 5, Parkin linked the suspension to allegations based on fake news circulating.
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“We have been accused of claiming to have partnerships with companies on our bill pay system, when we are actually doing our best to dispel these misrepresentations from other news sources,” the executive said. He added that FCF Pay The X account experienced numerous “bot-like interactions” in the days leading up to the suspension. FCF Pay said the activity could be an attempt by a competitor or support community to suspend the account.
“The good news is that we are actually rebranding anyway because we will be releasing a mobile app at the end of the year. If the FCF Pay account is not unblocked soon, we may speed up the process of switching to the new brand,” the COO said .
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