A payment service buy an automobile giant?Mercedes-Benz has acquired PayCash Europa SA is thought to be in the process of launching Mercedes-Pay, a payment service of its own.PayCash Europe operates a number of services like Mobile Payment Solutions, E-Money Solution, Cryptocurrency related services and Voucher and Loyalty related services.The acquisition of PayCash Europe will be made by Daimler AG the parent of Mercedes-Benz through Daimler Financial Services.It does not appear at first glance that the main aim of Mercedes-Benz is to dabble in cryptocurrency but there has been no denial issued by them as well.Bodo Uebber, Daimler Financial Services Board of Management member, reveals in a press release by the company: "Mercedes Pay is a fundamental component of our mobility and digitization strategy.Daimler's new payment system underscores our ambition, as a leading provider of digital mobility services, to make the products and services we offer even more appealing."PayCash which will turn into Mercedes Pay will be integrated into Daimler Mobility Services GmbH, which is further a subsidiary of Daimler Financial Services and has a number of mobility services in car-sharing like car2go.

They have a portfolio that comprises of four mln financed vehicles, it was revealed by Diamler that they intend to use the new payment system to “facilitate these and other financing transactions in the future.” There are inherent synergies between Daimler and PayCash Europe.PayCash’s system allows people to purchase items online or in a store with their mobile phone.Their application, which is available on both Google and Apple app stores also allows the sending and receiving of money.The E-money service provided by PayCash allows businesses to accept online payments and manage ‘E-money’.With Daimler's businesses like Car2Go, it is possible to share cars using a mobile application.This application allows users to self-drive a nearby car to their destination.Car2Go currently is used by more than 1.2 mln customers.Klaus Entenmann, Chairman of the Board of Management of Daimler Financial Services, on the subject of the merger in a press release says: "Our philosophy is to provide 'Mobility at your fingertips'.

'Mercedes pay' allows our customers to easily and securely pay for our mobility offerings and services using their smartphones.bitcoin matrix planMercedes pay will mainly benefit customers, who will in future only need to provide their payment details once in order to be able to use a range of Daimler’s services.bitcoin miner gratisThis is made possible by the "eWallet", a virtual source of payment.” There have been no details disclosed by both Daimler and PayCash.litecoin miners for saleThere is no clarity yet about what parts of PayCash’s cryptocurrency businesses will be affected or whether they would still continue to operate.bitcoin worth predictionThe press release by Daimler mainly shows interest in the e-wallet and the e-payment side of the businesses operated by PayCash.bitcoin ebay scams

It would be interesting though if by the acquisition of PayCash, there would be a possibility soon of buying a car directly from Mercedes and paying for it in Bitcoin.linux bitcoin generatorHowever Bitcoin can still help you drive your favourite car as some dealerships already accept the virtual currency.Of course you can always use Bitcoin and the neat profit that you earned holding it to buy yourself a brand new set of wheels.In a move that has some wondering what they will do with it, Mercedes Benz parent Daimler AG (OTC:DDAIF) has purchased digital payments and Bitcoin transactions processor PayCash Europe.While PayCash handles many types of digital payments aside from Bitcoin and other cryptocurrencies​, it may pave the way for the car maker to directly accept payment in Bitcoin in the future.(See also: The Top 5 Investors Investing in Bitcoin) Daimler Buys PayCash Daimler acquired PayCash in as part of its mobility and digitization strategy.

According to news outlet Automotive World, the acquisition will be used to launch mobile payments for Daimler products and services under the "Mercedes Pay" brand name.In a press release from the company, "Daimler’s new payment system underscores our ambition, as a leading provider of digital mobility services, to make the products and services we offer even more appealing,” Chairman of the Board of Daimler Financial Services, Klaus Entenmann, elaborated, "‘Mercedes pay’ allows our customers to easily and securely pay for our mobility offerings and services using their smartphones.“Mercedes pay” will mainly benefit customers who, in the future, will only need to provide their payment details one time, in order to be able to use a range of Daimler’s services.This is made possible by the eWallet function, a virtual source of payment.” (See also: Buying a Car?Read This Financial Advice First) In addition to accepting credit card and other e-payments methods, PayCash processes Bitcoin and other cryptocurrency transactions for merchants.

This has led some to speculate that in the near future, buyers will be able to pay for their car directly in Bitcoin, without having to go through cumbersome, and often costly, intermediaries.The popularity of Bitcoin as a means of payment has risen steadily since it was first introduced in 2009.Today, thousands of merchants accept Bitcoin for payment, including large companies such as Dell, Microsoft, Overstock, Virgin Airways, NewEgg, and some Subway franchises.Daimler would be the first company to directly accept Bitcoin payment, however, consumers have used third-party services to buy cars before, such as the Tesla 3 using the digital currency.Want to learn how to invest?Get a free 10 week email series that will teach you how to start investing.Delivered twice a week, straight to your inbox.No thanks, I prefer not making money.Nov 26, 2016 at 11:47 // Business Retailers in countries experiencing currency devaluation and cash scarcity are forced to conquer the markets of other countries, using Bitcoin for selling local goods that are ready for shipping worldwide.

The acceptance and popularity of Bitcoin is rising in cash-deprived Venezuela as a viable alternative.With the Venezuelan currency devalued, the Bitcoin price has increased by 30%.Bitcoin volume is consistently reaching new highs as well.If the devaluation, inflation, and goods shortages get worse, and if people continue to feed the black market, then the price of Bitcoin will continue to skyrocket.Merchants are finding an alternative way to sell their products whether they be new or used.Such is the case with one private car reseller, Joubert López, who was introduced to Bitcoin in September 2014.Since López began selling his Mercedes-Benz Classic Coupe collection with Bitcoin to rise above currency difficulties, he has become a global trailblazer and leads by example for other car resellers and dealerships.His goal at the moment is to spread the word about Bitcoin to other Mercedes-Benz owners, buyers, and sellers.The private Mercedes-Benz Classic Coupe collection López possesses includes a 1972 250 C W114.021 (5 BTC), a 1983 500 SEC W126.044 (10 BTC), and a 1992 SL 300 24V R129 (15 BTC), all for sale using Bitcoin (BTC).

“The 1983 500 SEC is already being negotiated to an offer of 9.5 BTC received fr om a local customer in Venezuela who is also a Mercedes-Benz collector.For the rest of the cars, I have received offers in FIAT money which I have on standby or for BTC offers,” explains López.López is not just focusing on selling his cars within European countries.His plan includes going global to reach potential customers by implementing a website on the Internet.“.ve  and thus reach global customers.If it works with my cars, then I could draw in more cars fr om other people and maybe later expand to other classic brands.So far the cars have only been offered to known local buyers.” since it is a global media website.“Also, a website showing the listed cars and contact information is being developed.The list will be open for anyone fr om anywhere.I really think the used car market and especially the classic collectible deals would greatly benefit from using Bitcoin,” explains López.Bitcoin is gaining in popularity and usage all over the world and especially in Venezuela wh ere the national currency has been decimated.

Plus, since USD is high, trading and purchasing in Bitcoin has been one of the alternatives.“.ve) showing lots of ads that receive Bitcoin for their goods.So far it is more about trading and investing more than buying things and paying.But, this is exactly why I believe that I can help spread the word about the use of Bitcoin in the used car market which is 90% of the total car market since production in the local plants is almost zero.Importing is very expensive because of the price for USD here,” clarifies López.As acceptance of Bitcoin among retailers continues to rise, the number of car dealerships using the cryptocurrency Bitcoin for buying and selling new automotive products is growing worldwide.Cars can be bought with Bitcoin from a Lamborghini to a Tesla electric car and everything in between.The Tesla Model S price in the UK starts from £49,000 which is around 81 Bitcoins.In Newport Beach, California, a Lamborghini can now be bought with Bitcoins.Also, at Carcity in Ottawa, Canada, Bitcoin is accepted for new cars.

The incentive to buy and sell used cars with Bitcoins is growing exponentially with many websites showing ads accepting Bitcoin as a purchasing option.The people of Venezuela have explored alternative options due to the national currency devaluation, so this has pushed Bitcoin to the forefront as a cryptocurrency.“Yes, definitely the people who understand the economy and have some capital are buying Bitcoin lately this year and I can tell you why with this example.In October 2015, you could buy a BTC for 250 USD (at the rate of 1.000 Bs.(VEF) per 1 USD thus 250.000 VEF= 1 BTC, now 1 year later 1 USD= 2.000 VEF so if BTC were frozen at 250 USD the 250.000 VEF, buyers would have made double!We know it was just much better with the actual price to date today about 700 USD for 1.400.000 VEF!So yes, Venezuela is in love with Bitcoin,” adds López.Since cash is running out in Venezuela, making Bitcoin a more popular alternative, it creates an environment wh ere cryptocurrencies will grow even more than expected as the value of Bitcoin increases.

López agrees, “Yes cash is running out, but from people’s pockets.Everything is getting wildly expensive and the government disservices the country.We were a very rich nation but now spoiled by crooks.You need to carry lots of money to pay for anything and people are using debit cards very much but that system is also collapsing.There should be more efforts to expand the use of Bitcoin here and I try to help with this.” Regarding the whole process of selling cars in Bitcoins, López claims that it has been smooth and relatively problem free as he explains what happened with one of his buyers.“It’s a very neat process.The buyer was a miner, sent to our wallet right away after looking at the car.He lives in the same area so it was quick.For the legal papers and notary, we just made a deal giving him all rights over the car and presto done!”Bitcoin as a transaction method is recorded on the blockchain and is very different than using cash or certified check wh ere there is a third party involved like a bank.