Volkswagen Singapore has partnered with local fintech FOMO Pay to let customers pay with cryptocurrencies, including Bitcoin, Ethereum, and stablecoins USDT and USDC. The payment system will be available for partial payments on new vehicles and aftersales services, with daily limits of SGD 4,500 and an overall cap of SGD 13,500 to prevent misuse.
The integration ensures compliance with Singaporean regulations and provides up-to-the-minute conversion rates for transparency. Dr. Kurt Leitner, Managing Director of VGS, said the move reflects shifting consumer expectations, especially among digital natives who value speed and convenience.
A survey shows that one in four Singaporeans now owns digital assets, strengthening the case for crypto payments. FOMO Pay’s enterprise gateway secures all digital asset transactions, aligning with Singapore’s ambitions to become a digital economy hub. VGS emphasized that customers will still have the flexibility to use hybrid or fiat payments, offering a seamless, multi-channel experience while modernizing the auto brand’s payment systems.
You need to login in order to Like
Leave a comment