Volkswagen SG customers can now pay via digital currency

Volkswagen Group Singapore (VGS) has announced a partnership with FOMO Pay, which will now enable digital currency payments for the former's vehicles and services. The move by VGS is in response to the growing adoption of digital currencies among consumers in Singapore, with recent data showing that 26% of residents now own digital assets.

As consumers increasingly seek faster and more cost-effective payment methods, digital currencies are gaining traction not only for their speed and enhanced security, but also global inter-operability and lower transaction costs. Digital payment token transactions per customer are subject to a daily cap of $4,500 SGD, with a maximum of $13,500 SGD based on smurfing limits.

VGS customers can now pay using digital assets such as Bitcoin (BTC), Ethereum (ETH), and stablecoins including USDT, USDC, and more. All transactions are processed securely through FOMO Pay's enterprise-grade gateway, ensuring compliance, transparency, and real-time exchange rates at the point of payment.

By enabling digital currency payments, VGS not only modernises its payment infrastructure but also signals a deeper commitment to offering greater flexibility and inclusivity for consumers.