Binance Pay introduces the Pay and merchant features

Binance Pay introduces the Pay and merchant features
March 12
10:02 2021

Binance’s payments platform Binance Pay has added new functions like the Pay and merchants. Per the company’s blog post, the Pay feature aims to promote crypto adoption by making it easier and more secure for clients to use cryptocurrencies for payments. The platform supports over 30 digital assets. Moreover, users can move their funds as they wish between Binance Pay and their Binance wallets.

In addition, according to the blog post, the technology features a Merchant API. It enables both online and offline merchants to accept crypto payments. One of the online merchants, travel agency Travala, has integrated Binance Pay on its platform last month. It became the first merchant to do so.  

Binance Pay is a payments technology that allows users to send and receive crypto to and from users all around the world. It is available for clients who registered on the website of the cryptocurrency exchange Binance.com and completed the identity verification process. The payments platform had a quiet release of its beta version in February this year. It was initially available only for peer-to-peer transactions and supported six cryptocurrencies.

Another cryptocurrency exchange also launched a payment service this month. Bitfinex, the fifth-largest exchange on CoinMarketCap.com, announced the launch of Bitfinex Pay. Their service can be placed as a widget on a merchant’s website to allow crypto payments.

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