Binance Pay, a contactless, borderless and secure user-to-user cryptocurrency payment feature on the Binance App, has just launched its alpha version after the beta version was released last month.
The new version of the app now includes the Pay and merchant functions, which allows users to pay, send and receive cryptocurrency payments around the world without incurring any fees.
Remember the leading cryptocurrency exchange rolled out the Pay feature in order to allow easy, convenient and secure payments and improve the adoption and utility of cryptocurrencies. Binance CEO Changpeng Zhao (CZ) has said in relation of the launch of the new version of the app:
"Traditional payment infrastructure services are riddled with high transaction fees; we see this Pay product as a way to solve one of the many issues and limitations of traditional finance. Finance is truly moving towards a digital world and economy where crypto is at the crux of this change which benefits the larger global population that needs it. Binance Pay will be part of our long term development to complete the crypto journey and allow people to live in crypto, especially with digital payments being an integral part of everyone’s daily lives."
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The beta version of the app, which was released last month, only allowed peer-to-peer payments. During this beta phase, around 250,000 users tested Binance Pay. Today, Binance Pay allows both peer-to-peer payments and merchant-based transactions.
This new platform allows users and merchants to choose their preferred payment options among over 30 currencies, including Bitcoin, Ethereum, BNB and more.