FCF Pay’s X account finds itself in a state of suspension due to the rampant spread of misinformation regarding its supposed “partnership” with Honda, an alliance that has never materialized.
Honda, the prominent automobile manufacturer, does not accept cryptocurrency payments directly. However, individuals can still employ cryptocurrencies like Bitcoin as a means to acquire a Honda vehicle through third-party intermediaries.
In early October, various publications erroneously claimed that Honda had begun embracing cryptocurrency as a valid payment method. Contrary to these reports, a Honda spokesperson clarified to Cointelegraph, saying, “American Honda does not accept cryptocurrency as a form of payment. The recent reports suggesting a shift in this policy are inaccurate.”
When queried further about their stance on cryptocurrency or any prospective plans for integrating crypto payments, Honda chose not to provide additional comments.
Despite the unavailability of direct cryptocurrency payments for Honda vehicles, people can utilize cryptocurrency payment platforms such as FCF Pay to purchase Honda cars.
Joseph Parkin, the Chief Operating Officer of FCF Pay, emphasized that Honda is not the sole car brand available for crypto transactions on their platform. “Our list includes other car manufacturers such as Mercedes, BMW, Ford, Nissan, and Mitsubishi,” Parkin revealed during the early days of October in an interview with Cointelegraph.
He explained that payments through FCF Pay are facilitated by a payment aggregator, using the same payment channels employed for cash transactions at bank branches. “In this payment process, cryptocurrencies essentially function as digital currency or the internet’s equivalent of cash,” Parkin remarked. He further noted that only companies integrated into the FCF Pay-operated bill payment aggregation system can participate.
Currently, this service is exclusively accessible within the United States. Nonetheless, FCF Pay is actively collaborating with additional partners to extend crypto-to-fiat bill settlements to Mexico, several Latin American nations, various African countries, and Asia. The bill payment system went live in September 2023, permitting consumers to purchase products using cryptocurrencies like Bitcoin, subject to a $3 charge plus a 2% fee.
“Our primary goal is to onboard companies of all sizes and across all sectors for direct cryptocurrency payments. We hope that governments worldwide will soon recognize the advantages of facilitating crypto payments for businesses,” Parkin added.
He made it clear that FCF Pay has not established any partnerships with companies like Honda to enable cryptocurrency payments for Honda vehicles. “Our system enables customers to make payments using cryptocurrency, but the nearly 21,000 companies on our platform receive fiat currency through our payment aggregator partner,” Parkin clarified.
These developments occur against the backdrop of FCF Pay’s ongoing struggle to reinstate its presence on X, formerly known as Twitter, following the suspension of its account on October 5. Parkin attributes the suspension to baseless allegations rooted in fake news that has been circulating.
“We were wrongly accused of claiming partnerships with the companies featured on our bill payments system, when in fact, we were diligently working to debunk these misrepresentations perpetuated by other news sources,” Parkin revealed. He also noted a surge in “bot-like interactions” on FCF Pay’s X account in the days leading up to the suspension, suggesting that this might have been an orchestrated effort by competitors or certain communities to have their account suspended.
“The silver lining is that we were already in the process of rebranding as we prepare for the release of our mobile app later this year. If our FCF Pay account isn’t reinstated promptly, we might expedite the transition to our new branding,” Parkin disclosed.
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