Binance launches cryptocurrency payments app

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This Binance service, allows users to pay, send and receive cryptocurrency payments worldwide without fee. Traders and users can choose from more than 30 currencies, including bitcoin, Ethereum and BNB.

Binance, the global cryptocurrency exchange, has launched a cryptocurrency payment platform for merchants, Binance Pay. The service allows users to pay, send and receive cryptocurrency payments worldwide at no charge.

Traders and users can choose from more than 30 currencies, including bitcoin, ethereum and BNB. Users can choose the order of the currencies they want to receive and move money instantly between Binance Pay and their wallet, or withdraw funds to the bank of their choice. Merchants can process payments online or in person using QR codes.

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In February, Binance launched the beta version of Binance Pay. During this phase, around 250 thousand users tried this solution.

“Traditional payment infrastructure services are riddled with high transaction fees; we see this Pay product as a way to solve one of the many issues and limitations of traditional finance. Finance is truly moving towards a digital world and economy where crypto is at the crux of this change which benefits the larger global population that needs it.”

Most of the payments platforms, have been recognizing cryptocurrency as an asset with great potential for payments.
Past February 2021, Mastercard announced that plans to accept cryptocurrency for more than one billion users worldwide. Visa also officially stated that it will also enable crypto for its users through partnerships.

The giant PayPal is also about to expand crypto payments worldwide throughout 2021.

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