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Binance Lite Works with POLi Payments to Enable Online Cryptocurrency Purchases in Australia

2019-12-20

Purchasing cryptocurrency online for users in Australia will now be even easier with the latest partnership between Binance Lite Australia, the cash-to-crypto service in Australia of global cryptocurrency exchange Binance, and POLi Payments. The initiative allows Binance Lite users to now buy bitcoin (BTC) directly on the platform through internet bank transfers using POLi Payments’ proprietary payment processing technology.A leading developer of online payment system, POLi Payments is trusted by merchants and customers across Australia and New Zealand. POLi Payment’s secure payment portal, will enable users to make bank transfers directly from Australian bank accounts to purchase BTC securely on desktop or mobile web. 

“This new service through the integration with POLi Payments marks the start of our larger plans to make crypto more accessible in Australia,” said CZ (Changpeng Zhao), CEO of Binance. “We are looking forward to seeing the increase of utility across the region with many Australians already transacting in crypto for booking travels, buying coffee and more. I would love to visit Australia one day and spend bitcoin and BNB there.” 

POLi Payments will only be available for users who pass both level 1 and level 2 KYC (know your customer) verification on Binance Lite Australia. Users must also have a valid Australian mobile number to complete the level 2 manual verification process. 

Binance Lite has also released a new escrow feature that protects users from fraud. The feature locks in real-time BTC prices at the point of purchase while waiting for the bank to clear the funds for users to receive their bitcoin. Using this secure processing technology will provide a low-risk environment for users of Binance Lite to purchase bitcoin online. 

Additional digital assets will be supported and announced later in the new year. To celebrate the new feature launch, there will be zero fees for users purchasing BTC through POLi Payments from now till March 20, 2020.

The POLi Internet Banking feature comes in addition to the cash-to-bitcoin service introduced earlier this year, which provides users with a reliable brokerage service operated through a network of more than 1,300 Newsagents across Australia as Binance’s first fiat gateway in the continent.

Paving the way for future cryptocurrency adoption and utility, Binance has also recently announced its plans last month to launch a crypto-backed travel rewards debit card together with Australian start-up TravelbyBit, which will be compatible with thousands of merchants and major travel sites with exclusive access to travel deals and cashback program. 

About Binance Lite Australia

Launched in March 2019, Binance Lite Australia is a secure and reliable cash-to-bitcoin brokerage service operating through a network of 1,300+ supported newsagents across Australia. As Binance’s first fiat gateway in Australia, Binance Lite continues to strengthen and lead cryptocurrency adoption in Australia by providing user-friendly fiat purchasing options.

About POLi Payments

POLi Payments (formerly known as Centricom) is an online payments company based in Melbourne, Australia. It is the developer and provider of POLi, an online payment system that is used by merchants and customers in Australia and New Zealand. POLi Payments has been acquired by SecurePay Holdings, a fully owned subsidiary of Australia Post.