We are stepping up our game! Binance Pay, a contactless, borderless, and secure cryptocurrency payment technology, has now become a big piece of CoinGate’s payment processing services.
This expansion of our crypto payment solution allows merchants to accept payments from ~17M Binance Pay users directly.
In turn, crypto-friendly customers can now visit CoinGate-powered merchants and conveniently pay for goods and services using any wallet assets in the Binance Pay app.
How does Binance Pay inclusion affect CoinGate users?
The Binance Pay service is available to CoinGate merchants via standard payment integration methods and, soon, the API. It is turned on by default for every eligible business outside of the US and can be turned off manually.
As of today, paying with Binance Pay is open at most stores with the CoinGate payment option at checkout. Using the Binance Pay option is advantageous because:
- Instant payment confirmation, no matter what cryptocurrency is being used;
- No expired, overpaid, or underpaid orders when paying with or collecting payments through Binance Pay;
- All incoming payments are subject to fraud monitoring, which is 100% covered by Binance;
- No additional costs for merchants.
Want to pay with Binance Pay? Sign up here. Want to accept payments from Binance Pay users instead? Register an account with CoinGate.
Mind that currently, the Binance Pay service is free of charge. It will remain cost-free for at least three months until late Q2 / early Q3 when an additional 0.3% fee for shoppers will be applied to payments facilitated by Binance Pay.
To remind you, Binance Pay has been a payment option at the CoinGate Gift Card Store for over a year. Further development of the partnership between CoinGate and Binance marks an important milestone in our company’s history and the overall adoption of cryptocurrency payments.
As so, we anticipate creating a positive impact on the broader crypto ecosystem while providing crypto enthusiasts more flexibility and convenience.
Justas Paulius, the CEO of CoinGate, believes that this partnership will help to do just that: ”Our mission has always been the same – push for crypto adoption in all ways we can. That said, joining forces with Binance Pay is one of the most significant steps we can take right now to contribute to that goal.”
Watch for upcoming updates and new developments regarding Binance Pay and other payment methods as we continue tailoring the best possible experience for our users.
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