Binance Pay merchant onboarding is not found in the "Pay" section of the Binance App. You first need a Binance Entity Account, then submit enterprise verification through the merchant application channel. Only after approval and signing the agreement can you start receiving payments.
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If you are an individual seller or an individual developer without a business entity, you currently cannot directly apply to become a Binance Pay merchant. The official requirement is clear: applicants must have an Entity Account.
Two Things to Confirm Before Applying
Whether your business country or region is on the supported list. Binance Pay merchant services are not available in certain countries and regions, including the United States, the United Kingdom, Canada, Japan, Singapore, Malaysia, the United Arab Emirates, the Netherlands, India, Indonesia, Vietnam, the Philippines, Thailand, and others. This list may change with regulatory developments, so always refer to the official Binance page at the time you submit your application. Being able to access Binance online does not mean your business registration location is eligible to apply.
Whether your business type falls under restricted industries. Binance explicitly restricts merchant onboarding for certain industries, including unlicensed casinos/gambling, adult content, fiat on-ramp and off-ramp services, cryptocurrency exchange/trading services, and digital asset wallet services. If your business is already in the crypto trading or wallet space, it will most likely not pass review.
Application Path
Register or log in to a Binance Entity Account. If you have already registered a Binance personal account with a certain email, you cannot upgrade that same email to an Entity Account. You need to submit a new Entity Account application using a different email address.
Submit through the merchant application page. Find the application entry on the official Binance merchant page, fill in your business information, and choose "Direct Merchant" or "Channel Partner." A Direct Merchant is the owner of a physical or online store. A Channel Partner is a payment processor, aggregator, or technical service provider.
Complete enterprise verification (KYB). Required documents typically include: company business license and business registration certificate, articles of association/operating agreement, authorization letter issued within the past three months stating the Binance login email and the applicant's position, company report from the last 12 months including the director list and ultimate beneficial owners, ownership structure chart, identification documents of directors and beneficial owners, and a compliance questionnaire. The exact list varies by company type, and additional documents may be requested after submission.
Sign the Binance Pay agreement. Direct Merchants sign in the Merchant Management Portal (MMP). Channel Partners and technical service providers should request a copy of the agreement from their account manager.
After submitting the application, you can check the review status under [My Profile] in the MMP. If rejected, click [View Details] to see the reason, then choose [Re-verify] or [Re-apply] to resubmit. If you have questions about your status, you can email merchant@binance.com.
How Receiving and Settlement Actually Work
Customers can pay with more than 80 cryptocurrencies, but what you receive is stablecoins, usually USDT or USDC. Binance Pay is an off-chain closed-loop solution, so settlement is instant and merchants do not need to wait for block confirmations.
Receiving payments itself does not charge a fee. Keeping funds in your Binance wallet is also free. Fees only apply when you withdraw funds to an external wallet or bank. If you are connected through a Channel Partner, the specific settlement method and fees are subject to your agreement with that partner.
There is no hard cap on order amounts, but for a single order exceeding 20,000 USD, the customer must pay with the same asset as your settlement currency.
A branch worth confirming in advance: If you do not have a business entity but have a Channel Partner, such as a payment processor or aggregator, willing to help you integrate, you may be able to use Binance Pay under that partner's merchant system without directly applying to Binance as an enterprise merchant yourself. This is currently the only feasible workaround for individual sellers, but whether it works depends on the partner's policies.
The world's largest cryptocurrency exchange by trading volume,leading in security and liquidity.
New user benefit: Enjoy 20% off trading fees upon registration!
Things You Cannot Ignore After Applying
Binance Pay does not support chargebacks. Once the customer's payment is confirmed, funds arrive in your merchant wallet instantly. If a dispute requires a refund, you can only initiate it proactively through the Merchant Management Platform or API. This means you need to establish your own risk control rules before receiving payments, such as setting amount limits for unfamiliar customers or requiring additional verification.
Your daily transaction and withdrawal limits depend on your VIP level. Limits are calculated on a rolling 24-hour basis, and each completed order deducts from the limit. To increase your limit, submit a ticket under [My Profile] → [Increase Limits] in the MMP. Binance will ask for more business information to evaluate your request.
