Binance Pay Update: January 2023
Main Takeaways
Binance Pay enables users to spend their crypto on real-world goods and services when buying from any merchant on the platform.
The end of 2022 and beginning of 2023 have seen some big additions to the Binance Pay ecosystem, including the first pharmacy in Europe, global mobile data services, digital gift cards, and two new crypto cashback programs.
There are now 22 million users and more than 9,000 merchants and partners signed up with Binance Pay.
January 2023 has been a busy month for Binance Pay, with numerous exciting partnerships, developments, and announcements for the platform. This article covers all the latest news on the Binance Pay ecosystem.
Binance Pay is a contactless, borderless, and secure cryptocurrency payment technology designed by Binance. The platform allows you to send, spend, and pay with crypto anywhere in the world.
You can also use Binance Pay to spend crypto when shopping — as long as the merchant is using the same technology. Check out our list of merchants that accept Binance Pay.
The good news is that as the platform grows, you’ll be able to buy even more of your favorite things with crypto. The last few months have seen some major developments for Binance Pay, including the addition of the first pharmacy in Europe, global mobile data services, digital gift cards, and two new crypto cashback programs.
Binance Pay Grows in Ukraine With Pharmacy Partnership
This year began with Binance Pay strengthening its utility as a payment option in Ukraine. On January 3, 2023, it was announced that one of the country’s largest pharmacy chains, ANC Pharmacy, had agreed to accept crypto payments via Binance Pay.
The announcement noted that ANC was the first pharmacy in Europe to accept crypto, both online and at its 1,000 outlets across the country.
This comes off the back of last year’s announcement that Binance Pay would be partnering with Varus, a supermarket chain with over 100 stores across Ukraine — a first for supermarket shoppers in Europe looking to pay with crypto.
Buying Global Mobile Data With Crypto
In January 2023, the eSIM service DENT added Binance Pay to its services and app. DENT’s mobile data packages connect users to the fastest 4G/LTE wireless internet regardless of physical location, and support global travel without charging extortionate roaming fees.
Binance Pay has always been big on supporting travel — after all, crypto is global. This integration means users can now pay for DENT’s products and services with their digital assets, making global mobile data with digital SIM cards even more accessible to the crypto community.
Using Crypto to Pay Phone Bills in Bahrain
Speaking of mobile data, STC has become the first telecoms operator in Bahrain to start accepting crypto payments. As such, customers in Bahrain can now pay their phone bills through Binance Pay. This step forward for wider crypto adoption in the kingdom can be attributed to Binance Pay’s flourishing partnership with Eazy Financial Services (EazyPay), which specializes in point-of-sale (POS) and online payment services.
EazyPay’s integration of Binance Pay into its POS terminals and payment gateways means crypto-first customers can spend crypto instead of fiat when shopping — all they need to do is scan the QR code using their Binance app. Check out this video of a Binance Pay user in Bahrain paying for their lunch with crypto to see this process in action!
Digital Gift Cards Now Available Through Binance Pay
Binance Pay can now also be used on Token.store, which processes and sells digital gift cards, game codes, and electronic pins (or ePins) for some of the world’s most popular brands and games. These include Amazon, Google Play, Steam, and Spotify — among many others.
Unfamiliar with ePins? In short, they’re codes given to users to redeem in exchange for specified items (or credit). Some examples of ePin usage are prepaid mobile phone credit or Internet cards, gaming cards, and software licenses.
Now, thanks to Binance Pay, using your crypto to purchase digital gift cards, game codes, and ePins on Token.store is easier than ever.
Spend To Earn: A New Crypto Cashback Program
In December 2022, Binance Pay launched its Spend To Earn crypto cashback program. Users can enjoy up to 5% BUSD cashback rewards every time they shop online via this program, which features over 150 participating merchants across 45 markets.
We’ve got a wide range of shopping categories covered, including fashion, tech, lifestyle, and travel. Top brands involved include Adidas, Logitech, Swarovski, Marriott Hotels, and Qatar Airways. Simply choose the brand you want to make a purchase from under our Spend to Earn program, click on the link, and start shopping.
Simply put, Spend to Earn allows you to earn crypto for spending fiat. Use your payment method of choice (be it a credit card or mobile wallet) and earn crypto rewards with Binance Pay.
Crypto Cashback Continues: Binance Pay Partners With Picodi
January 2023 saw Binance Pay continue on its crypto cashback journey, thanks to a new partnership with Picodi — an international cashback platform that gives users discount codes and spending rewards whenever they shop online. Picodi’s cashback program is currently available in 5,000 online shops in more than 40 countries.
This partnership allows Binance Pay users to not only enjoy all the benefits Picodi offers but also receive crypto cashback as an added benefit. Merchants currently supporting this crypto cashback program via Picodi include Aliexpress, Adidas, Nike, Booking.com, NordVPN, Samsung, and North Face.
All you need to do is go to the Picodi website, choose the store you want to shop at, click on any available offer of your choice, then continue your shopping once redirected to the relevant site. Once your order is complete, your reward is automatically sent to your Picodi account and can be withdrawn as crypto cashback to your Binance account.
New Binance Pay Feature: Payment Request Links
Last but not least, the latest addition to the Binance Pay ecosystem is the ability to create payment requests and receive crypto from others with ease.
For instance, if you’ve footed the bill for dinner with friends, you can now use Binance Pay to send them a payment link, which they can use to pay you back in crypto. The best part? It’s fast and free to use.
All you need to do is log into your Binance account and go to [Pay]. Tap [Receive] - [Request a Payment].
Select your preferred currency and enter the amount you want to receive. You can also add a description so the person you’re sending it to can see what the payment is for. Next, tap [Share Request Link] to share the link via a messaging app or social media platform, such as Telegram, WhatsApp, or Facebook. It’s that easy!
Binance Pay Is for Everyone
As evidenced by all these recent developments, Binance Pay is continuing to grow in options and reach. As more merchants join the program, crypto users will have even more opportunities to earn crypto cashback by spending their holdings on everyday items.
Furthermore, merchants ready to embrace the future will be pleased to know that Binance Pay is opening up a customer base of more than 22 million users.
Want to find out more? Visit our Binance Pay pages for everything you need to know.
