LEASING your next company car has taken a new turn down the digital highway.
Small fleet specialist Intelligent Car Leasing says it now accepts software-based payment system, Bitcoin, for all its new car leasing contracts.
Although they’ve not gone the full Bitcoin hogg, as the cryptocurrency can only be used to pay the handling charge, which is collected for finance document and administration fees.
The online-only ‘digital currency’ is growing across the globe, with consumer confidence booming as it develops strength, security and usability.
Tell me then, just what is Bitcoin?
- Bitcoin is a digital currency
- But the money doesn’t exist – it’s virtual
- A public ledger records Bitcoin transactions
- Bitcoin can be volatile – its value goes up and down
- The payment system is decentralised – and exists only peer-to-peer
It’s a sign of the times that a company such as Intelligentcarleasing.com is opening its doors to this alternative payment method – and with no similar companies doing the same, it’s certainly a breakthrough move.
Bitcoin can be obtained in several ways, from simply trading like you would travel money, to earning it via Bitcoin mining.
The latter is a process whereby companies pay you to use your computer’s power to process data, working in a similar fashion the platform that Paypal uses for secure transfers of traditional currency.
Craig Day, sales manager at Intelligent Car Leasing said: “We are always on the lookout to give customers the best online shopping experience possible. Whether this is by giving them more flexible methods of payment or an easy to use website, we try to stay ahead of the curve.”
The announcement means business car managers will be able to lease anything from a Mazda to a Mercedes using nothing but Bitcoin. Intelligent Car Leasing uses a Coinbase.com digital ‘wallet’ to handle payments, and prides itself on charging the market rates – meaning there’s no premium to pay for choosing Bitcoin as your next payment method.
It’s simple and easy to use too, with the secure process providing a receipt – just like it would if you paid using a credit or debit card in GBP. Another boon is that due to its online-only status, it is a seamless and easy to use worldwide currency without exchange rates.
