Beyond sending funds to friends, Binance Pay also lets you scan and pay at supported merchants. The experience is similar to mobile payment apps but uses cryptocurrency. If you haven't tried it yet, register on Binance first, then activate Pay in the APP. Download the Binance APP on your phone to use the scan-to-pay feature.
Activating Binance Pay
Find the Pay entry on the Binance APP homepage or in the "More" menu. First-time use requires setting a Pay nickname — this is what the other party sees. That's all it takes to activate.
The prerequisite is completing Binance's identity verification (KYC). If you haven't verified yet, the system will prompt you to do so first.
How to Send Payments
There are several methods:
Method 1: Scan QR code. The other party displays their receiving QR code, and you scan it with the Binance APP's scanner. Confirm the amount and currency, then pay. Arrives instantly.
Method 2: Enter recipient information. On the Pay page, tap "Send," enter the recipient's Pay ID, registered phone number, or registered email. Select the currency and amount, then confirm.
Method 3: Via link. The other party shares a Pay payment link with you. Clicking it automatically opens the Binance APP to complete payment.
All methods are fee-free.
How to Receive Payments
On the Pay page, tap "Receive." The system displays your receiving QR code and Pay ID.
Show the QR code for the other party to scan. You can also share your Pay ID for manual entry.
Received funds automatically go to your funding account and are viewable in the APP.
Paying at Merchants
A growing number of overseas merchants accept Binance Pay. The process is straightforward:
- The merchant displays a payment QR code
- You scan it with the Binance APP
- The amount due appears on screen
- Choose which cryptocurrency to pay with
- Confirm payment
Some merchants accept multiple cryptocurrencies while others only accept specific ones. The system shows available options before payment.
Where Can You Use Binance Pay?
Currently, merchants supporting Binance Pay are mainly found in:
Select overseas tourist destinations. Certain online service providers (VPN, domain, hosting, etc.). Online and offline shops integrated with the Binance Pay merchant system. Some partner platforms within the Binance ecosystem.
Honestly, coverage is still far from mainstream payment apps. But in specific scenarios — especially cross-border payments and crypto-friendly merchants — Binance Pay is genuinely convenient.
Where to View Pay Transaction History
On the Binance APP's Pay page, you can see all payment records including time, amount, and counterparty information. You can also find Pay-related transactions in the APP's "Orders" or "Bills" section.
Can I Get a Refund If I Pay the Wrong Amount?
Binance Pay transfers cannot be automatically reversed once sent. If you paid the wrong amount or the wrong person, you can only contact them to negotiate a return. When using Pay after registering on Binance, always double-check the information carefully.
For merchant payment issues, you can request assistance through Binance customer support.
Binance Pay vs On-Chain Withdrawal: Different Things
Some newcomers get confused. Binance Pay is instant payment between Binance users or with merchants — it doesn't go through the blockchain. Withdrawal means sending crypto from Binance to an external wallet via the blockchain network, requiring fees and confirmation time.
The use cases differ: Pay for Binance users and merchants, withdrawal for non-Binance wallet addresses.
FAQ
Does Binance Pay have daily limits? Yes, specific limits depend on your KYC verification level. Higher verification means higher limits.
Can received Pay funds be traded directly? Yes. Received funds are in your funding account — transfer to your trading account to use for spot or futures trading.
Which cryptocurrencies are supported? All major coins are supported, including USDT, BTC, ETH, BNB, and dozens more. Check the APP for the specific list.
Can non-Binance users pay to my QR code? No. The payer must also be a Binance user. If they don't have an account, they need to register first.
Security Reminder
When using Binance Pay, protect your personal information. Don't display your receiving QR code in public for extended periods. After receiving large payments, verify the amount is correct. Enable Google Authenticator and anti-phishing code to protect your account. Only use Pay within the official Binance APP.