Want to accept cryptocurrency payments at your store or website? Binance Pay offers merchant payment services — customers scan a code to pay with crypto, and merchants can choose to receive crypto directly or auto-convert to fiat.
Becoming a merchant requires a verified Binance registration account. Find the Binance Pay merchant application in the Binance APP.
What Is Binance Pay for Merchants?
Binance Pay for Merchants allows physical stores and online businesses to accept crypto payments. Customers pay by scanning a code with the Binance APP, and merchants receive crypto or fiat.
For merchants, it's an additional payment channel reaching tens of millions of Binance users worldwide.
How to Apply
Individual Merchants:
- Log into the Binance APP
- Navigate to the Binance Pay section
- Find the "Merchant Services" entry
- Fill in business information (store name, type, address, etc.)
- Submit for review
- After approval, receive your merchant payment QR code
Business Merchants:
- Register a Binance business account
- Complete KYB (Know Your Business) verification
- Apply for Binance Pay merchant services
- Obtain API credentials for online payment integration
Payment Collection Process
In-Store:
- Merchant creates a payment order in the APP (enter amount)
- Generate a payment QR code
- Customer scans with the Binance APP
- Customer confirms payment
- Merchant receives confirmation notification
- Transaction complete
Online:
- Integrate Binance Pay via API on your website
- Customer selects Binance Pay at checkout
- Redirects to payment page or displays a payment popup
- Customer confirms payment in the Binance APP
- Merchant system receives the payment success callback
What Are the Fees?
Binance Pay merchant fees are typically very low or even zero, depending on:
- Transaction amount
- Merchant type
- Region
- Whether auto-conversion is needed
Compared to traditional credit card merchant fees of 2%-3%, Binance Pay offers a significant rate advantage.
What Currency Do You Receive?
Merchants can set their currency preferences:
Direct crypto: Receive the cryptocurrency the customer pays with (USDT, BTC, etc.).
Auto-conversion: Some regions support automatic conversion of received crypto to fiat or a designated stablecoin, reducing price volatility risk.
Merchants who don't want to bear crypto price volatility should choose to receive USDT or other stablecoins.
Supported Tokens
Customers can pay with multiple cryptocurrencies: BTC, ETH, BNB, USDT, USDC, and more. Check Binance's official list for the complete supported token list.
Merchants don't need to set up each token individually — the system handles it automatically.
Merchant Dashboard
As a merchant, the management dashboard lets you:
- View all transaction records
- Manage payment settings
- Download transaction reports
- Set employee permissions
- Generate payment codes for different scenarios
What Types of Merchants Is This For?
Cross-border e-commerce: Avoid the high fees and exchange rate losses of traditional cross-border payments.
Digital goods: Software, courses, designs, and other digital products are especially suited for crypto payments.
Crypto industry services: Mining equipment sales, trading education, and crypto-related businesses.
Physical stores: Restaurants, coffee shops, and other venues accepting crypto-friendly customers.
Important Notes
- Confirm your region allows merchants to accept cryptocurrency payments
- Plan for taxes — crypto income may be taxable
- Train staff on the payment collection process
- Maintain secure merchant account settings
- Reconcile regularly to ensure accurate transaction records
Binance Pay provides merchants with a low-cost, global payment channel. If your customer base includes crypto users, it's worth considering integration.