Shopify Merchants Can Now Accept Crypto Payments Using Binance Pay

Leading crypto exchange Binance is set to build a crypto and fiat payment bridge that will enable Binance Pay users to send and receive digital currencies across several platforms, including Shopify. This follows the August 4 announcement of Binance’s partnership with Alchemy Pay, a crypto-fiat gateway technology. 

Binance Partners Alchemy Pay to Drive Crypto and Fiat Payment

Binance Pay launched in February to facilitate peer-to-peer and merchant-based transactions. As per the announcement, the fiat-crypto integration with Alchemy Pay will enable the millions of merchants on Shopify to accept payments in more than 40 different cryptocurrencies, including bitcoin.

Along with the e-commerce giant, the new service extends to other companies that support Alchemy Pay. These include the Canadian footwear brand ALDO, Hong Kong’s Pricerite, Singapore’s QFPay and Ce La Vi, and multinational Arcadier SaaS.

Binance Pay is available for all eligible users, and transactions on the platform are usually instantaneous. 

Alchemy Pay’s partnership with Binance for the Binance Pay wallet significantly expands the practical backbone applications we build between the crypto and fiat worlds.

John Tan, CEO, Alchemy Pay

Binance Ramps up Crypto to Fiat Payment

Binance is one of the big-name institutions in the cryptocurrency space, driving up the adoption of cryptocurrencies as a payment medium. In May, the exchange partnered with Travala to enable users to book and pay for hotel reservations using cryptocurrencies via Binance Pay. With over three million travel products, Travala was reportedly the first merchant to integrate the Binance Pay service.

Several businesses have showed interest in accepting crypto payments this year, following the increase in prices. In April, Crypto News reported that several Australian companies, including NBN Internet RSP Launtel, Dream PC Australia and Queensland Solar and Lighting, now allow customers to send payments using bitcoin and other cryptocurrencies.