Binance has chosen crypto payment processor TripleA as its new universal crypto payment gateway for its Binance Pay payment feature on its mobile applications.
The new partnership would play an essential role in helping extend the global use of Binance Pay, according to a June 10 press release.
Speaking on the development, Binance Pay’s Regional Head of Business Development Pakning Luk said:
“This cements Binance Pay’s mission in providing businesses and consumers a contactless, borderless, and secure cryptocurrency payment experience.”
This was corroborated by Eric Barbier, the CEO and Founder of TripleA. He said TripleA has seen more demand from businesses to enable crypto payments.
Novelship, an Asian online marketplace for limited-edition sneakers, streetwear, and collectibles, is among the retailers that will be using the payments gateway.
Crypto-based payment services on the rise
The news comes on the heels of payment technology firm Mastercard announcing a team-up with the Latin American e-commerce firm Mercado Libre to improve the security and transparency of its crypto program in Brazil.
Mastercard’s CipherTrace technology will also help the e-commerce company manage regulatory and compliance requirements.
In addition, payment processor Stripe recently re-introduced Bitcoin (BTC) payments through a partnership with crypto start-up OpenNode.
Stripe and OpenNode’s partnership will allow Stripe’s customers to accept BTC payments through a new app that will let users convert incoming payments and any amount of their account balance into BTC.