Binance, the world’s biggest cryptocurrency exchange, is working with Singapore-based TripleA as the latest cryptocurrency payment gateway for Binance Pay. With TripleA, sellers can accept cryptocurrencies like Bitcoin, Ethereum, Tron, and more with easy setup and instant confirmation. That means merchants don’t have to worry about price fluctuations or chargebacks and can get their money in their local currency.
The two companies have partnered to bring financial technology advanced by cryptocurrency to the marketplace. Binance Pay is a contactless, borderless, secure payment solution for businesses looking to support cryptocurrency payments. The service is available through the exchange’s platforms, including Binance DEX (the decentralized trading platform), Binance’s desktop app, and on the web with a Chrome extension.
This partnership will provide merchants access to the Binance ecosystem and their 5 million daily active users. The payment system bridges the exchange and the retail world. The service allows customers to purchase products using their favorite cryptocurrencies at any physical store worldwide.
We could not be more excited to announce TripleA as a strategic payment partner. This cements Binance Pay’s mission of providing businesses and consumers with a contactless, borderless, and secure cryptocurrency payment experience.
Pakning Luk, Regional Head of Business Development, Binance Pay.
TripleA is seeing strong demand from businesses to offer crypto payments, which is, of course, driven by their consumers. We are pleased to work with Binance Pay and Novelship to satisfy this growing market need.
Eric Barbier, CEO, and Founder of TripleA.
Binance Pay
Binance Pay is part of a series of initiatives by the leading exchange. The service will lead to more widespread use of cryptocurrency in all aspects of life. The exchange wants to become a hub for all things crypto, so it’s critical that the exchange can handle payments from everyone, everywhere.
The exchange’s vision is to bridge the gap between merchants and Cryptocurrency. With the rapid adoption of cryptocurrencies among retailers across the globe, Binance Pay will enable more merchants to accept multiple digital assets in a secure environment, growing the reach and usage of digital currency spending.
Crypto payment services on the rise
Bitcoin and other leading cryptocurrencies are seeing strong demand from both merchants and investors. The recent partnerships between leading companies and platforms indicate increased confidence in the crypto market. This, in turn, may help to sustain Bitcoin’s rise.
Public crypto-based payment platforms are proliferating as merchants and crypto companies seek ways to convert fiat into bitcoin (BTC). Just recently, Mastercard announced a team-up with the Latin American e-commerce firm Mercado Libre to improve the security and transparency of its crypto program in Brazil. Mastercard will provide educational resources and information about their crypto program to Brazilian merchants.
Stripe and OpenNode have also developed a new app that will allow business owners on Stripe’s platform to accept BTC payments without needing an intermediary. This type of partnership is likely to gain traction in the future as blockchain tech improves. However, for now, it’s only an option for Stripe customers who can take advantage of OpenNode’s service and deal directly with their customers.
As the blockchain payments industry grows, it’s important to ensure that cryptocurrency payments are easy and convenient for merchants and consumers alike. That’s why the exchange has partnered with TripleA to create an online payment solution that simplifies the process of sending and receiving cryptocurrency payments.
Binance is one of the world’s fastest-growing cryptocurrency exchanges and has a massive user base. It offers various cryptocurrencies, has partnerships with leading businesses, and is generally attracting large numbers of users. In addition, the company has a good reputation as a safe, transparent and trustworthy company.
Although, on its face, it looks like many other exchanges out there, it has been scoring big partnerships and building a large following in the industry due to its unique fee structure, which discourages trading with lots of small movements. The exchange offers support for over 50 coins.