Binance Pay is a “contactless, borderless and secure cryptocurrency payment technology designed by Binance” that allows Binance users to “shop with crypto or send crypto to friends and family worldwide.” It features “zero fees” and “lightning fast payments.”
Binance, the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider, recently announced a partnership with international payment service ivendPay to integrate it as a global cryptocurrency payment gateway for Binance Pay. This move will help make cryptocurrencies an even bigger part of users’ everyday lives, increasing digital assets’ real-world utility and making payments more accessible. Binance users can now make purchases at all ivendPay locations in their international network with cryptocurrencies.
IvendPay, which operates in seven countries and currently has around 400 active merchants, enables businesses to accept cryptocurrency payments through point-of-sale (POS) terminals, mobile apps, e-commerce platforms, API, and vending machines. The company is focusing its expansion efforts on the European market, prioritizing Portugal. IvendPay is already among the EU’s largest cryptocurrency payment providers in vending and retail systems and is a resident of The FinTech House, Portugal’s largest fintech, regtech, insurtech, and cybersecurity hub, with partners such as VISA, KPMG, and BPI.
Pakning Luk, Binance Pay’s regional head of business development, expressed enthusiasm about the partnership, saying that ivendPay’s solutions make users’ payment experience seamless for both online and offline merchants.
IvendPay has already helped numerous local businesses in Portugal streamline their crypto payment processes, including popular ramen eatery Ajitama in Lisbon. The restaurant’s owner explained that accepting cryptocurrencies through ivendPay attracted tech-savvy customers and media attention, establishing them as crypto movement pioneers in Portugal.
Tiago Coelho, the owner of restaurant La Paparrucha, which has implemented ivendPay’s solution, praised the simplicity and security of the payment process. Michalis Gkourtzidis, director of retailer Electra, shared his excitement about partnering with Binance Pay and ivendPay to provide a seamless and secure payment experience, believing it will pave the way for further innovation in the crypto and blockchain space.
Yalla!Market, a Dubai grocery delivery service, has also indicated its intention to embrace the crypto payments trend. Leo Dovbenko, CEO and co-founder of YallaMarket and YallaHub, stated that their partnership with Binance and ivendPay will enable them to stay agile, adopt new payment technologies, and focus on providing the best possible customer service.