The ‘Venmo moment’ for crypto? Binance Pay’s scan-and-send upgrade gets us close

Copy addresses and double verification characters could soon be obsolete. With Send on Chain and Send via contact, Binance Pay reduces two -step crypto transfers: scan or select, then send. The era of web 3 portfolio gymnastics seems to be over.

According to a press release shared with Crypto.News on July 3, Binance Pay deployed two main features aimed at filling the gap between traditional digital payments and the often heavy transfer process of crypto.

The upgrades of sending on the channel and the shipment via contacts allow users to send more than 300 cryptocurrencies from selecting a recipient of their telephone contacts or by analyzing a QR code for chain transactions – elimination of manual address entry and gas costs for peers transfers.

Jonathan Lim, World Manager of Binance Pay, supervised the move as part of a wider thrust to “merge the transfers outside the channel and in a chain” into a single transparent experience.

“These features are part of our wider mission to bring a daily utility to digital assets and simplify the way people connect, paid and transfer value worldwide,” said Lim.

How the remuneration of the Binance reclassions Crypto payments

The new features approach two of the most persistent UX headache in crypto: peer transfers and chain transactions. Send via the contact effectively transforms the telephone directory of a payment networking user, creating a flow in three steps, select a contact, choose an amount, confirm the transaction.

If the recipient is not on Binance, the sender can take them directly from the application, creating an integrated viral growth loop.

For external wallets, the image recognition of the chain can decode a portfolio address from a screenshot or a photo, while QR completely analyzes manual input. The system even checks characters for current errors such as confusion “0” for “o”. This may seem a minor upgrade, but it is a critical backup given the ruthless nature of the blockchain when the addresses are taken.

For users, the advantages are immediate. Stablecoin transfers between users of Binance Pay now reflect the speed of messaging applications, without gas costs that eat in small payments. This changes the situation for funds or division invoices.

Merchants also win. The same QR system feeding the deployment of the French Riviera, where more than 80 companies now accept crypto, can now be used for peer transactions. This level of interoperability suggests that the binance builds an ecosystem where the crypto moves as fluidic between individuals as in cash meters.

Binance ambitions for the conviviality of daily cryptography

This is not the first Binance Pay movement towards the utility of the real world. A few days before this update, the service joined the French Fintech Lyzi to bring crypto payments to luxury hotels and retailers along the Côte d’Azur, from JW Marriott from Cannes to high -end shops in Monaco.

The initiative of the mayor David Lisnard of the initiative highlighted an increasing trend: municipalities and companies now consider cryptographic payments not as a novelty, but as an infrastructure.

When associated with new shipping features, these efforts reveal a wider strategy. Binance does not make the crypto be easier to use, that makes the transaction disappear in the background, a bit like contactless cards for traditional payments.