Brazil Welcomes Binance Pay: Elevating Crypto Transactions

Binance Pay, the global cryptocurrency payment solution from Binance, has debuted in Brazil, offering local merchants a seamless way to accept cryptocurrency payments. The new payment alternative promises to attract new customers, speed up processing, and reduce costs.

We’re excited to announce that #Binance Pay has now launched in Brazil! 🇧🇷

Local businesses in the country can now access all the benefits of accepting crypto payments, including increased speeds and lower costs.

Find all the details below. https://t.co/s2av5QsCNC

— Binance (@binance) August 22, 2023

Binance Pay facilitates secure, contactless, and borderless cryptocurrency payments. It supports over 70 cryptocurrencies, including Bitcoin (BTC), BNB, ether (ETH), and USDT. Users do not pay fees, while merchants can receive payments directly in Brazilian Real or crypto to their wallets.

“Brazil registers one of the highest crypto adoption increase rates,” said Guilherme Nazar, General Manager for Binance in Brazil. “Companies and merchants can now benefit from high processing speeds, low costs, and security provided by Binance Pay.”

Payment Accessibility in Brazil

Since its initial launch in 2021, Binance Pay has garnered over 12 million active users and processed over $98 billion in pay volumes. In Brazil, Binance Pay is partnering with Weo Games, a gaming store offering products from popular games like Free Fire, Valorant, and League of Legends, and website builder WordPress.

As cryptocurrency adoption grows, merchants integrating crypto payment solutions like Binance Pay can reach a broader customer base and enhance their competitive advantage.

Moreover, merchants interested in incorporating Binance Pay into their checkout flow can easily do so by adding the Binance Pay entry point. Customers can then pay via Web checkout or the Binance App by scanning a QR Code and selecting the token in their wallet for payment.

Embracing Crypto Payments for Business Growth

Binance Pay allows businesses to accept cryptocurrency payments, increase consumer confidence in online purchases, and streamline checkout.

By the end of 2023, 75% of US consumer-facing enterprises want to accept cryptocurrency payments, with 87% believing it would offer them a commercial advantage. Using cryptocurrencies as a payment method helps support client preferences, improves the user experience, and attracts new consumers.

In Brazil, Binance Pay is set to accelerate the country’s crypto adoption further and contribute to the global trend of cryptocurrency acceptance.