According to an official announcement from Binance, Binance Pay has launched two important upgrades: contact transfer and on-chain transfer. The contact transfer feature allows users to quickly transfer cryptocurrency through their phone contacts without entering a wallet address, email, or Binance ID. It supports over 300 types of cryptocurrency and does not charge Gas fees. The on-chain transfer feature is realized by scanning a QR code or taking a photo of the wallet address, utilizing AI-driven OCR technology to enhance transaction speed and security. These upgrades aim to simplify the cryptocurrency transfer process and improve user experience.