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The renowned automaker Honda has made it clear that they do not accept cryptocurrencies as a direct form of payment for their vehicles. Earlier in October, several media outlets mistakenly reported that Honda had embraced cryptocurrency for payments, but a company spokesperson promptly clarified the situation.
When asked about their future outlook on cryptocurrency or any potential plans to consider crypto payments in the future, Honda remained non-committal.
While Honda is not embracing direct cryptocurrency transactions, platforms like FCF Pay provide an alternative path for enthusiasts to purchase Honda vehicles using cryptocurrencies.
Joseph Parkin, the Chief Operating Officer at FCF Pay, highlighted that Honda is not the only brand accessible through their service. Other prominent automobile manufacturers, including Ford, Mercedes-Benz, BMW, Mitsubishi, and Nissan, are also available for purchase using cryptocurrencies on their platform.
Parkin explained that FCF Pay's operations are facilitated by a payment aggregator, ensuring that cryptocurrency transactions closely resemble traditional payments, likening crypto to "digital cash or the internet's currency." Presently, the bill payment aggregation system of FCF Pay is limited to partnered entities.
FCF Pay's service is currently confined to the United States, but they are preparing for expansion and exploring collaborations to facilitate crypto-to-fiat settlements in regions such as Mexico, several countries in Latin America, parts of Africa, and Asia.
As of September 2023, the platform has empowered customers to make purchases using a variety of coins, including Bitcoin, Ether, XRP, Tether, and USD Coin, with a fee structure of $3 plus 2% of the transaction.
Elaborating on FCF Pay's mission, Parkin mentioned the platform's ambition to encourage companies of various sizes and industries to accept direct crypto payments. While they are enthusiastic supporters of cryptocurrencies, FCF Pay has not entered into exclusive partnerships with companies, including Honda, to enable direct cryptocurrency transactions. Parkin emphasized, "Customers can transact in crypto, but the 21,000 companies integrated with our system receive payments in fiat."
The disclosure about FCF Pay's operations coincides with their efforts to restore their profile on X (formerly known as Twitter). Parkin attributes their account suspension on October 5 to misinformation and alleged sabotage attempts by potential rivals or opposing factions.
