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Binance Payment: Unbounded crypto asset payment function

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Update time : 2021-05-29 15:18:02
Binance Pay is a contactless, unbounded, and secure peer-to-peer crypto asset payment function on the Binance App. After the soft launch of Binance Pay last month, payment and merchant functions are now available. In the future, users can pay, send and receive encrypted assets in various regions without any fees during the period.

Binance launched this latest payment function to make payment easier, more convenient and safer, to make encrypted assets a part of people's daily life, and to increase its popularity and practicality. Binance CEO Changpeng Zhao (CZ) shared how Binance Payment will further realize future payment methods and the currency freedom that crypto assets can bring.

 "Traditional payment infrastructure services suffer from high transaction fees; we think this payment product can solve the problems or shortcomings of traditional finance," CZ said. "Finance is gradually moving towards digitalization, and encrypted assets are the difficulty of this transition. If done well, it can benefit more people who need encrypted assets."

CZ continued, “Binance Payment is part of our long-term vision to promote the popularization of encrypted assets. We hope that encrypted assets can eventually be integrated into people’s lives and make digital payments a part of daily life.”

In February last year, Binance released a beta version of Binance Payment, which only supports peer-to-peer payments. At this stage, about 250,000 users have experienced the use of Binance Payment. Now, Binance Payment not only supports peer-to-peer payments, but also merchant transactions.

Choose payment or collection method

The new platform of Binance Payment allows users and merchants to choose their preferred payment method, and supports 30+ currencies including Bitcoin, Ethereum, BNB, etc. Users can set the currency order of payment according to their own preferences, transfer money between Binance Payment and personal spot wallets, or withdraw cash to a selected bank card.

Online collection and face-to-face collection

Whether it is an e-commerce platform or a small street shop, you can use Binance Pay to receive encrypted assets. The merchant API of Binance Payment can handle online payments or face-to-face scan QR payments, bringing consumers a smooth and smooth payment experience.

Starting today, Binance Payment users can book more than 3 million travel products on Travala.com, the first merchant to support Binance Payment. Due to the overwhelming response from the Binance Pay merchant program, only first-come, first-served applications are currently accepted. If your platform also wants to add encrypted asset payment, please contact us: merchant@binance.com. For more details about Binance Payment, please click here.

About Binance Pay

Binance Pay is a contactless, unbounded, and secure peer-to-peer crypto asset payment function on the Binance App, supporting more than 30 currencies. In the future, users can pay, send and receive encrypted assets in various regions without any fees. In addition, Binance Payment also supports merchant transactions, users and merchants can choose their favorite payment method.