Binance Pay is Binance's cryptocurrency payment solution, allowing users to make transfers and payments using crypto. This is an important step toward everyday cryptocurrency adoption. Register a Binance account to use Binance Pay, and download the latest Binance APP for convenient crypto payments.
Introduction to Binance Pay
Binance Pay is a contactless, borderless cryptocurrency payment technology. Users can make payments and receive funds by scanning QR codes or sending payment links. The payment process completes instantly with zero fees.
Unlike traditional blockchain transfers, Binance Pay doesn't require entering complex wallet addresses or selecting blockchain networks. You only need the recipient's Binance ID, phone number, or QR code to complete a payment. This significantly lowers the barrier to crypto payments.
Binance Pay supports multiple cryptocurrencies including BTC, ETH, BNB, and USDT. Recipients can choose to receive in the original currency or have it automatically converted to a specified currency. This flexibility allows both parties to conveniently use their preferred coins.
Setting Up and Using Binance Pay
First, find the Binance Pay entry in the Binance APP. First-time use requires setting a payment nickname and payment PIN. The PIN is required for every payment — choose a number combination that's not easily guessed.
To send a payment: Tap Send, enter the recipient's Binance ID or phone number, select the payment currency and amount, enter your PIN to confirm. You can also generate a payment link to share with the recipient.
To receive a payment: Tap Receive to display your QR code or share your Binance Pay ID. After the other party scans the code or pays through your ID, funds arrive instantly in your Funding Wallet.
Binance Pay for Merchants
If you're a merchant, you can integrate Binance Pay as a payment option. The Binance Pay merchant API supports integrating crypto payments into websites and apps, offering customers more payment choices. Merchants can choose to settle in crypto or fiat.
An increasing number of online and offline merchants are accepting Binance Pay. In travel, e-commerce, gaming, and other sectors, crypto payments are gradually gaining adoption. Using Binance Pay sometimes comes with exclusive discounts and promotions.
For individual users, the most common use case for Binance Pay is transfers between friends. Compared to traditional bank transfers, Binance Pay has no geographical restrictions and enables instant global transfers, especially suitable for small cross-border payments.
Security Tips for Using Binance Pay
Protect your payment PIN and never share it with anyone. We recommend changing your PIN periodically. If you suspect your PIN has been compromised, change it immediately in settings.
Carefully verify recipient information and payment amount before paying. Crypto payments cannot be reversed once completed, unlike credit card payments that can be charged back. Don't pay if you encounter suspicious payment requests.
Set a reasonable daily payment limit in Binance Pay settings. This way, even if your account is misused, losses remain controllable. Also enable all available security verification measures to ensure every payment is thoroughly verified.