Honda vehicles can only utilize cryptocurrency payments through a third-party service.

Prominent automobile manufacturer Honda does not directly accept cryptocurrency payments; however, individuals can utilize cryptocurrencies such as Bitcoin (BTC) to purchase a Honda vehicle via a third-party service.

In early October, various media outlets erroneously reported that Honda had begun accepting cryptocurrency as a form of payment. Nevertheless, a representative from the company informed Cointelegraph that Honda does not permit the purchase of its vehicles in exchange for crypto, stating:

“American Honda does not accept cryptocurrency as payment. The recent reports regarding a change to this policy are incorrect.”

Honda did not provide further comments regarding its position on cryptocurrency or whether it intends to incorporate crypto payments in the future.

While direct cryptocurrency payments for Honda vehicles are not an option, consumers can still use cryptocurrency payment services like FCF Pay to acquire a Honda car.

As per FCF Pay’s chief operating officer Joseph Parkin, Honda is not the sole automotive brand available for purchase using crypto on the platform. “There are additional car manufacturers on the list, including Mercedes, BMW, Ford, Nissan, and Mitsubishi,” Parkin informed Cointelegraph in early October.

The COO explained that transactions on FCF Pay are processed by a payment aggregator through the same payment channels that facilitate cash payments at bank branches. “In this payment flow, crypto essentially functions as digital cash or the cash of the internet,” Parkin remarked. He noted that only those companies integrated into the FCF Pay bill payment aggregation system are currently accessible.

This service is presently limited to the United States. However, FCF Pay is collaborating with more partners to implement crypto-to-fiat bill settlement in Mexico, several Latin American nations, various African countries, and Asia, according to the executive. The bill payment system was launched in September 2023, allowing users to purchase products using cryptocurrencies such as Bitcoin, Ether (ETH), XRP (XRP), Tether (USDT), USDC (USDC), and others for a fee of $3 plus 2%.

“Our goal is to onboard businesses and organizations of all sizes across every sector for direct crypto payments, and we hope that governments worldwide will soon recognize the advantages of facilitating crypto payment acceptance,” Parkin stated.

The COO also highlighted that FCF Pay has not formed a partnership with companies like Honda to facilitate crypto payments for Honda vehicles. “Our system enables customers to pay with cryptocurrency, but the nearly 21,000 businesses featured on the system receive fiat through our payment aggregator partner,” Parkin pointed out.

This information emerges as FCF Pay faces challenges in restoring its account on X (formerly Twitter) after it was suspended on October 5. Parkin has attributed the suspension to accusations stemming from the false information that has been circulating.

Related: Ferrari to accept crypto payments in the US

“We were being accused of claiming partnerships with the companies on our bill payments system, while we were genuinely attempting to correct these misrepresentations from other news outlets,” the executive stated. He added that FCF Pay’s X account experienced numerous “bot-like interactions” in the days leading up to the suspension. FCF Pay suggested that this activity could have been an effort to get the account suspended by competitors or their associated communities.

FCF Pay’s suspended account on X (formerly Twitter). Source: X

“The positive aspect is that we are already in the process of rebranding as we approach the launch of our mobile app at the end of the year. We may expedite the rebranding process if the FCF Pay account is not unblocked soon,” the COO mentioned.

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