Indeed, customers who use the Binance Pay app to make payments are now able to send such payments to merchants via CoinGate, thanks to new cooperation between the two platforms, according to the information shared with Finbold on March 7.
Binance Pay’s integration with CoinGate is a simple and convenient payment processing option for companies worldwide that fulfill specific industry and geography requirements. Customers of CoinGate-powered stores have more payment options and more convenience when the Binance Pay feature is activated, as they may use their choice cryptocurrency directly from their Binance wallets.
On the matter, CoinGate’s CEO, Justas Paulius, is confident that this partnership will help accelerate crypto adoption:
”Our mission has always been the same – push for crypto adoption in all ways we can. That said, joining forces with Binance Pay is one of the most significant steps we can take right now to contribute to that goal.”
Binance Pay free for the first 3 months
The Binance Pay integration for CoinGate is turned on by default and can be accessed using the standard integration channels; API access will be made available in the near future. After the first three months, there is a 0.3% fee for using Binance Pay to make payments until you deactivate the service.
With this enhancement of CoinGate’s services, companies can accept payments using the widely used cryptocurrency app, increasing the number of methods consumers may use to transact with them. With the increasing popularity of digital assets, this improvement represents a major step toward standardizing companies’ acceptance of cryptocurrency payments.
The addition of Binance Pay integration is a big step in ushering in a new age for companies willing to embrace the monetary innovations of the future. Notably, CoinGate revealed back in January that crypto payments in eCommerce had climbed over 60% in 2022.