Major automobile manufacturer Honda has clarified that it does not accept cryptocurrency as direct payment for its cars. Recent reports mistakenly claimed that Honda had started accepting digital currencies like Bitcoin (BTC), but the company has debunked these rumors.
In a statement to Cointelegraph, a spokesperson for Honda stated, “American Honda does not accept cryptocurrency as payment. The recent reports regarding a change to this policy are incorrect.” This clarification puts an end to any confusion regarding Honda’s position on cryptocurrency payments for its vehicles.
However, while Honda does not accept crypto payments directly, interested buyers can still purchase a Honda car using cryptocurrencies through third-party platforms. One such platform is FCF Pay, a crypto payment service that allows customers to buy various car brands, including Mercedes, BMW, Ford, Nissan, and Mitsubishi, using cryptocurrencies.
Joseph Parkin, the Chief Operating Officer of FCF Pay, explained the payment process on the platform. Payments made through FCF Pay are settled by a payment aggregator via the same payment rails used for cash transactions in bank branches. Parkin likened crypto payments on FCF Pay to digital cash, stating that cryptocurrencies act as the “cash of the internet.”
Presently, FCF Pay is available only in the United States. However, the company is working with partners to expand its services to Mexico, several Latin American countries, multiple African nations, and Asia. The platform was launched in September 2023 and allows customers to make bill payments using cryptocurrencies like Bitcoin, Ether (ETH), XRP (XRP), Tether (USDT), and USD Coin (USDC) for a minimal fee of $3 plus 2%.
FCF Pay’s objective is to enable direct crypto payments for companies of all sizes and across all sectors. Parkin expressed hope that governments worldwide would recognize the advantages of facilitating crypto payments for businesses. Although FCF Pay enables customers to pay with cryptocurrencies, the platform’s partner payment aggregator ensures that the companies listed on FCF Pay receive fiat currency.
The news about Honda’s crypto payment stance coincides with FCF Pay facing difficulties in restoring its social media presence. The company’s X account (formerly Twitter) was suspended on October 5, allegedly due to accusations based on fake news circulating about partnerships. Parkin attributed the suspension to “bot-like interactions” that occurred on the account prior to the suspension. FCF Pay suspects that these activities were attempts by competitors or certain communities to get the account blocked.
Despite the setback, FCF Pay is already in the process of rebranding as it prepares for the upcoming release of its mobile app by the end of the year. Parkin mentioned the possibility of accelerating the rebranding process if the FCF Pay account is not unblocked soon.
In conclusion, Honda does not accept cryptocurrency payments for its vehicles directly but interested buyers can purchase a Honda car using cryptocurrencies through third-party platforms like FCF Pay. FCF Pay aims to expand its services globally and enable direct crypto payments for businesses across various sectors. However, Honda’s clarification puts to rest any speculation about the company’s acceptance of cryptocurrency for car purchases.