Binance Pay Comes to Brazil, Here Are the Benefits of Accepting Crypto Payments!

Binance Pay has entered Brazil. (Photo; Doc. Block Builders)

JAKARTA - Binance Pay, Binance's global cryptocurrency payment platform, has made its presence official in Brazil. Binance Pay offers a simple way for local merchants to accept payments in cryptocurrency.

This innovative payment solution is claimed to provide benefits such as increasing the number of customers, accelerating the payment process, and reducing transaction costs. With Binance Pay, the cryptocurrency payment process is safe, fast and seamless.

More than 70 types of cryptocurrencies are supported by the platform, including Bitcoin (BTC), BNB, ether (ETH), and USDT. No fees are charged to users, while merchants can receive payments directly in Brazilian Real or cryptocurrency to their wallets.

Guilherme Nazar, General Manager of Binance in Brazil, emphasized, "Crypto-currency adoption in Brazil is increasing rapidly." He continued, "Enterprises and merchants can now take advantage of the high transaction speed, low fees, and level of security that Binance Pay provides."

Since its initial launch in 2021, Binance Pay has managed to attract more than 12 million active users and process more than US$98 billion (Rp. 1.5 quadrillion) in payment volume.

In Brazil, Binance Pay has entered into a partnership with Weo Games, a game store offering products from popular games such as Free Fire, Valorant, and League of Legends, as well as a WordPress website creation service provider.

Advantages of Accepting Crypto Payments

As cryptocurrency adoption increases, merchants who adopt crypto payment solutions such as Binance Pay have the opportunity to reach a wider audience and strengthen their competitive edge.

Additionally, merchants looking to integrate Binance Pay into their checkout pipeline can do so easily through adding a Binance Pay entry point. In this way, customers can make payments via the Web checkout process or via the Binance App by scanning the QR code and selecting the cryptocurrency in their wallet.

Binance Pay provides an opportunity for businesses to accept payments in cryptocurrency, which in turn can increase consumer confidence in transacting online and simplify the payment process.

According to data, by the end of 2023, about 75% of companies serving consumers in the United States are interested in accepting payments in cryptocurrency, with 87% believing this will bring them business benefits.

Using cryptocurrency as a payment method can support customer preferences, improve user experience, and attract new consumers. With its presence in Brazil, Binance Pay is poised to contribute to accelerating cryptocurrency adoption in the country as well as supporting the global trend in cryptocurrency acceptance.