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Accept Crypto at Your Business With Binance Pay

2022-07-25

Main Takeaways

  • Payment flexibility is vital when catering to an international customer base.

  • Accepting crypto comes with key benefits like low transaction fees that can give businesses a competitive advantage.

  • Binance Pay offers an easy way to integrate and customize crypto payment tools for your business needs.

  • Find out how Binance Pay can help you increase your reach and win over customers.

Make your business crypto-friendly with robust merchant tools and the world’s largest Web3 community.

Crypto is no longer just a niche asset class but a popular payment method gaining traction among small businesses and major corporate powerhouses alike. 

A survey conducted by Deloitte in late 2021 found that over 85% of US merchants surveyed are giving high or very high priority to enabling crypto payments in their business.

The number of crypto-friendly merchants is growing rapidly, and businesses that aren’t considering these tools are missing out on a significant pool of customers. Checkout.com’s Demystifying Crypto: Shedding light on the adoption of digital currencies for payments in 2022’ found that 40% of respondents aged 18-35 globally plan to pay using crypto in 2022.

How Crypto Can Help Your Business

Compared to traditional payment rails, accepting crypto offers several benefits, including lower transaction fees and new customers that previously weren’t accessible.

Every credit card swipe charges a small cut, around 1.5% to 3.5% of the transaction. For small businesses, this can snowball into a considerable sum. Besides credit cards, major payment gateways like PayPal charge close to 4% per transaction. On the other hand, crypto payments require significantly lower processing fees — typically around 1% if your company uses a crypto payment partner. 

Customers who want to pay in crypto won’t need a bank account or a credit card if they wish to purchase your products. This means your business can reach crypto users worldwide that are unbanked or have little access to traditional financial services.

The process may initially seem complicated for business owners new to crypto. For instance, implementing a poorly-designed API may hinder your daily operations, while some providers charge high transaction fees that can eat away your returns. 

This is why we created Binance Pay, a secure, borderless, and contactless crypto payment system. Our API is simple and easy to integrate, and we offer some of the lowest transaction fees in the market.

Start Getting Paid in Crypto, Seamlessly

From low fees to being home to the world’s largest crypto community, Binance Pay is the preferred option for merchants who want to grow their businesses with crypto. Binance Pay merchants can choose from over 50 cryptocurrencies and stablecoins, including BUSD, a regulated, fiat-backed stablecoin pegged to the US dollar. 

As of July 2022, Binance Pay is helping over 6000 merchants accept crypto payments from some 11 million users. 

Powerful Tools Designed to Scale Your Payments

1. Payment APIs for customizability

Design your own checkout experience by building directly with Binance Pay Payment APIs. Choose what you want your front-end interactions to feel like to your customers.

2. Mobile app support

With our mobile SDKs,  you can integrate Binance Pay into your iOS or Android app. Upon integration, your customers can choose from over 50 cryptocurrencies to pay you anywhere they are, right from their mobile phones.

3. Simplified checkout page integration

If you’re looking for a quick payment solution, why not try redirecting your customers to a Binance-hosted checkout page? Using our solution allows you to accept crypto instantly instead of spending time creating your own page. Moreover, our checkout page dynamically adapts to your customer’s device to increase sales conversion.

4. Shareable payment links

Want to simplify your checkout process? Create a payment link in seconds and share it with your customers through WhatsApp, SMS, email, or any other preferred channel. Your customers can click on the link and be automatically redirected to the Binance-hosted checkout page. And the best part? Payment links can be created in two simple steps via the Merchant Management Portal, without any coding knowledge!

5. Access to the Binance app

Instead of selling on your platform, why not leverage the power of the Binance ecosystem? Host your business directly within the Binance app and gain worldwide exposure to millions of users. To do so, you can develop your own mini programs and deploy them on Binance Marketplace. Because you’re creating your own program, you can choose how you want it to look and function.

Get Started Today

Improve your international branding and customer satisfaction by offering payment flexibility with over 50 cryptocurrencies. Integrate Binance Pay and join thousands of other merchants who have already started their crypto journey.

First, select your preferred business solution and create a payment experience like no other. 

Direct Merchant

If you are a physical or online store owner thinking about selling your products and services through Binance Pay, explore more about being a Direct Merchant.

Sub Merchant

If you’re looking for a quick, fuss-free setup through a channel partner plugin or want to leverage pre-existing APIs, explore more about being a Sub Merchant.

Channel Partner

If you are a licensed financial institution or third-party agency looking to help your merchants access Binance Pay, explore more about being a Channel Partner.

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