PayPay Integrates Binance Pay for Crypto Purchases in Japan

Japanese payment provider PayPay has partnered with Binance to allow eligible overseas visitors to pay for purchases at participating offline stores in Japan using their crypto balances. The feature, launched on September 30 through HIVEX, a cross-border payment network, allows merchants to receive yen-denominated payments while customers can fund their purchases directly from their Binance crypto accounts.

To use the feature, visitors must have completed Binance's identity verification process and be visiting from outside Japan. Merchants who accept cross-border payments will display a PayPay QR code that customers can scan using the Binance app to complete the payment. The exchange rate is handled automatically during payment, with over 100 cryptocurrencies supported, including USDT, USDC, Bitcoin, Ethereum, and BNB.

While this feature does not extend to domestic customers or merchants who require Japanese identity verification, it provides an additional payment option for eligible visitors. However, payments and refunds are distinct transactions, and the amount returned can differ due to rate fluctuations and applicable foreign-exchange spreads.