Direct Debits
Once a user has signed the debit agreement authorizing a merchant to make debits, the merchant can directly initiate a deduction request to the user’s Binance account in accordance with the agreed business rules (debit periods, debit dates, maximum debit amounts, etc.). This process means that a user can complete the payment without entering their payment password. For further information, refer to the Integration Doc.
Scenario | Scenario Characteristics | Problem to Fix (User Side) | Problem to Fix (Merchant Side) |
|---|---|---|---|
Periodic deduction | Merchants with debit agreements can deduct payments directly from a user's Binance account, following agreed-upon rules. | By automating payment operations, users can avoid repetition and ensure that their services are renewed as scheduled. | Merchants can boost business conversion rates by offering password-free payments through long-term service contracts with loyal users. This makes payments more convenient and offers more service options. |
Use first, pay later | Auto-deduction is activated after the merchant completes their service, based on user behavior, like requesting a ride through a car-hailing app. | This solution addresses the issue of user inconvenience when making payments in certain scenarios. | Merchants can improve their services by offering password-free payments, which can enhance efficiency and expand payment options, making their services more accessible to customers. |
How it works
1. User activates the debiting service
1.1 Enable auto-debit service on the merchant platform | 1.2 Confirm the debit agreement details and activate it |
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2. Merchant debits the user’s balance
1.Merchant provides the services | 2.Merchant initiates the auto-debit | 1.Merchant provides the services | 2.Merchant initiates the auto-debit |
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Examples: |
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Post deduction mode | Pre deduction mode | ||
Debit limits
To protect our users, the default maximum amount a merchant can charge a user is 50 BUSD per transaction. You can contact our business team to request a limit increase if you have special needs.
Who can use it
All Verified Binance Pay individual merchants or enterprise merchants.
Ready to get started?
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