Business 15 March 2019Erik Gibbs
Car dealer in Oklahoma gets rolling on crypto vehicle purchases
Cryptocurrency was envisioned for one purpose—to be used as a form of digital currency that would allow consumers to control their assets directly without government or other third-party intervention. As crypto continues to be embraced for its true role, more retailers are coming around and beginning to allow consumers to pay for their goods and services with their digital assets. Now that the waters have been tested and retail has seen the value of crypto payments, there is going to be more adoption at a merchant level moving forward and a major car dealer in Oklahoma has become the latest to realize the importance of crypto.
According to an article in Forbes, the Bob Moore Auto Group is now accepting Bitcoin Core (BTC), Ether (ETH) and Litecoin (LTC). The company operates 18 dealerships throughout Oklahoma and its customers can now use digital currency to purchase car parts, pay for vehicle services and even buy a car in a pilot project at its Subaru store. Based on the success of that pilot, the company will roll out the capability to all of its locations, which offer Audi, Cadillac, Jeep, Mazda, Maserati, Porsche and more.
Bob Moore Subaru General Manager Charles E. Davis told Forbes, “As the Premier dealership group in Oklahoma we are excited to be the first in the state and one of the first large groups in the country to adopt cryptocurrency as a form of payment. Subaru is a progressive brand and only deserving to be the first one to institute digital currency in the group. We expect great things from this ever-evolving space and with Aliant payment systems ability to remove the volatility, we were able to make it a reality.”
As indicated by Davis, the dealership has partnered with Aliant Payments to facilitate the crypto transactions. Aliant has its corporate offices in Fort Lauderdale, Florida and offers credit card, payment and crypto processing. It is also a registered ISO (independent selling organization) of Wells Fargo bank.
The crypto community is still in the early stage of global adoption, but things are changing quickly. More and more retailers are coming to the realization that credit card providers such as Visa and MasterCard are charging too much for their services and, as the price of digital currencies stabilize, they are more open to crypto. This is only the beginning and widespread global retail adoption of crypto as a payment option is going to become mainstream in the very near future.
Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.
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