As the world sees megatrends in the automotive sector, the Japanese carmaker Honda has witnessed significant developments to attract more audiences. The Honda group announced that users can purchase a vehicle using crypto, such as Bitcoin, through an intermediary.
The carmaker underlined that Honda only accepts crypto payments made through third parties. Earlier, several sources claimed that the Honda group had introduced crypto payments. In response to the inaccurate publication shared at the beginning of October, Honda confirmed that the company declined requests for crypto payment.
Honda Dismiss Claims
A statement from a spokesperson at Honda revealed that the carmaker does not allow buyers to purchase through crypto. The spokesperson described the recent publication concerning purchasing Honda vehicles through crypto assets as incorrect.
Even though Honda has not introduced a crypto payment option, the spokesperson admitted that crypto investors could use digital assets to purchase the vehicles through Canadian payment processor FCF Pay.
In an exclusive interview with the chief operating officer at FCF Pay, Joseph Parkin argued that the payment company has collaborated with various car manufacturing companies to facilitate crypto payments. The executive confirmed that the FCF team supports fast-paced automobile companies such as BMW, Nissan, Mitsubishi, and Ford in completing crypto payments.
Parkin admitted that the FCF group had incorporated revolutionary technologies to support the investors purchasing their preferred cars through crypto. He explained that FCF has a payment aggregator that facilitates all cash payments.
The executive argued the ever-evolving nature of the crypto positions the currency as digital cash. Mr. Parkin stated that FCF clients listed on the payment aggregator can only access the crypto service. In the meantime, Parkin stated that the crypto payment option is only available to US clients.
Honda Mandates Third Party to Facilitate Crypto Payments
In his statement, Parkin confessed that FCF plan to enlist other company in the payment aggregation system to support the company expansion to Mexico, Africa, Latin America, and Asia. The proposed development aims to increase the number of users of crypto-to-fiat payments.
In September, the FCF launched the payment system to enable customers to purchase crypto products at a 2% fee. The customers can use Bitcoin (BTC), Ether (ETH), XRP, USD Coin (USDC), and Tether (USDT).
According to Parkin, launching the FCF payment system aimed at bringing on board companies and corporations to allow direct crypto payments. The executive anticipates that the government will also support crypto payment to foster business growth.
Even though the FCF Pay is yet to collaborate with some of the listed companies on payment systems, the primary objective of this development is to allow the customers to make crypto payments.
Trends in Automotive Sector
Currently, the FCF has not partnered with Honda, but around 21,000 companies are connected to the payment aggregator. The announcement came when Ferrari, the leading manufacturer of luxurious cars, integrated the crypto payment option on the platform.
In an October 14 report, the Ferrari group stated that the customers had demanded the company to consider introducing crypto payment. In response to the request, the Ferrari group partnered with BitPay, a renowned payment processor, to allow US customers to purchase vehicles using crypto assets.
The carmaker revealed plans to launch crypto payments to European users in the coming days. The Ferrari group confessed that the shift to crypto payments aligns with the company’s objective of attaining Carbon neutrality by 2030.
Editorial credit: The Bold Bureau / Shutterstock.com
All trademarks, logos, and images displayed on this site belong to their respective owners and have been utilized under the Fair Use Act. The materials on this site should not be interpreted as financial advice. When we incorporate content from other sites, we ensure each author receives proper attribution by providing a link to the original content. This site might maintain financial affiliations with a selection of the brands and firms mentioned herein. As a result, we may receive compensation if our readers opt to click on these links within our content and subsequently register for the products or services on offer. However, we neither represent nor endorse these services, brands, or companies. Therefore, any disputes that may arise with the mentioned brands or companies need to be directly addressed with the respective parties involved. We urge our readers to exercise their own judgement when clicking on links within our content and ultimately signing up for any products or services. The responsibility lies solely with them. Please read our full disclaimer and terms of use policy here.