Businesses Share Their Binance Pay Experience
Binance Pay is a global platform used by shoppers and merchants all over the world.
Contactless, borderless, and secure, Binance Pay is a crypto payment system that allows businesses to become crypto-friendly.
Find out what these two companies have to say about Binance Pay after their integration.
Ever wondered why our merchants love Binance Pay so much? Read about the Binance Pay experience that two savvy businesses are sharing here.
With low transaction fees, a suite of payment features, and over 50 cryptocurrencies and stablecoins accepted, Binance Pay has helped many traditional businesses take advantage of current payment methods to appeal to a wider audience. Check out what Novelship and League of Kingdoms like about Binance Pay below.
“When we introduced cryptocurrency as a payment method, we encountered numerous challenges such as customers sending incorrect funds, using the wrong wallet address, and network congestion. Binance Pay has supported us to solve all these concerns instantly.” – Richard Xia, CEO
Novelship is a marketplace for limited-edition sneakers and collectibles from leading brands including Nike, Air Jordan, Yeezy, and Supreme.
Striving to provide the most seamless shopping experience to their customers, Novelship recently completed a customer survey and discovered that an overwhelming majority of their customers were keen on using crypto as an alternative payment method.
As it was a new payment system, there were a few hiccups along the way. However, the difficulties that both the company and its customers met with were resolved with the help of Binance Pay.
Richard remarked, “With just a scan of the QR code, the wallet address and amount of cryptocurrency are auto-filled correctly. To make the payment, customers can use any of the cryptocurrencies in their Binance wallets, and no fee is charged for gas or withdrawals. This has truly helped us elevate our customer experience.”
“The integration experience was seamless, and our developers were able to complete the process much faster than expected.”
In a short period of time, Novelship customers have bought sneakers worth over USD 100,000 in digital assets. Satisfied with the latest payment integration, Novelship is currently having more discussions with the Binance team about future collaborations.
League of Kingdoms
“Our gamers are enjoying a great gas-free and seamless payment experience on Binance Pay with various cryptocurrencies on their Binance spot wallet.” – Han Yoo, COO of League of Kingdoms
League of Kingdoms is known as the world’s first large-scale multiplayer strategy blockchain game centered around building kingdoms and governing the world. Players build their own powerful kingdom and army, forge alliances, compete against others, and trade digital assets across the blockchain.
Although it has already been accepting crypto payments through individual wallets, it integrated Binance Pay products to improve user experience. In particular, it uses Merchant Payment APIs to deliver a smooth, gas-free checkout experience for its 150,000 crypto-literate gamers.
League of Kingdoms described the experience so far as “splendid with seamless transactions and good user experience.”
With its target audience in mind, it hopes that Binance Pay can go beyond and develop a product that specifically drives crypto adoption among gamers.
Benefits of Becoming a Binance Pay Merchant
While crypto isn’t a common payment method yet, the benefits it offers play a part in encouraging big brands to embrace crypto payments. In particular, Binance Pay has several unique advantages that businesses like Novelship and League of Kingdoms gravitate towards.
Native crypto audience
Binance is home to millions of crypto-ready users who are familiar with paying with crypto. Businesses can reach more customers when they offer crypto as a mode of payment.
Low transaction fees
Binance Pay offers one of the lowest transaction fees in the market. Lower fees mean less costs that eat into profits.
Get paid in crypto or stablecoins
Binance Pay automatically lets companies accept over 50 cryptocurrencies and stablecoins, including BUSD. What’s more, your customers can pay in their preferred currencies and Binance Pay can automatically settle payment in your desired ones.
One wallet to manage your crypto revenue
Access, send, spend and manage your crypto earnings all in one place. You can choose to send crypto as salary, pay your vendors, send payouts in batches, or convert the crypto into cash within the Binance ecosystem.
Payment products suited for your business
Binance Pay offers different payment products that best suit business needs and match technical capabilities. For instance, you can use the no-code solution if you do not have developers in your team or build a mini-program within the Binance app to get better exposure.