According to the announcement from Binance, the platform has unveiled two significant upgrades to its Binance Pay Send service, aimed at streamlining the process of sending cryptocurrencies. These enhancements, Send via Contact and Send On-Chain, are designed to cater to diverse user preferences, offering improved speed, security, and convenience.
Binance Pay Send via Contact allows users to send crypto instantly to phone contacts without the need to input wallet addresses, emails, or Binance IDs. This feature supports over 300 cryptocurrencies and eliminates gas fees, providing a time-saving solution for users. By selecting a contact from their phone book within the Binance App, users can send crypto with minimal effort, reducing errors associated with manual entry of payment details. This upgrade enhances social connectivity by enabling users to connect with friends and family, making transfers between Binance users more intuitive.
The Send On-Chain feature facilitates crypto transfers by scanning a QR code or capturing a photo of a wallet address, eliminating manual input and network complexities. Utilizing AI-powered OCR technology, this feature automatically extracts payment details from images or screenshots, speeding up transactions and minimizing errors. It highlights character similarities and provides secondary confirmation for new addresses, ensuring enhanced accuracy and security. Additionally, this upgrade supports the widespread adoption of stablecoins by simplifying on-chain transactions.
Binance Pay Send is not available in certain restricted countries or regions due to legal and regulatory requirements. Users are advised to check the availability of these services in their region. The announcement emphasizes that discrepancies may exist between the original English content and translated versions, urging users to refer to the English version for the most accurate information.