Binance Merchant Pay is a dedicated business-facing solution from the well-known crypto exchange, Binance. It allows businesses to accept Bitcoin, Ethereum, and other major crypto assets.
This step-by-step guide covers generating of the API keys, setting up the integration for secure payment confirmation, and activating acceptance of crypto payments on your customizable one-page checkout.
For more information on this crypto payments solution visit Binance Merchant website.
In this article:
1. Pre-connection checklist
To enable Binance as a payment processor on customizable checkout pages by Checkify, you must have an active business account on the platform and pass all the required onboarding that involves KYC / KYB processes. If you do not have an account, you may start from here.
Binance is a global crypto platform that adheres strictly to international sanctions, follows compliance norms and has some of its own restrictions. You may read more on their website before starting and view the list of available countries/regions here.
It is a must to take these platform's policies and limitations into account before starting as a business.
2. Setting up Binance Pay on Checkify's checkout
Once the verification for a Binance Pay Merchant account is complete, you will have access to their admin system.
The secure, no-code connection between Binance and Checkify Plus requires a few setup steps. Visit admin > Payment methods > Binance Pay to get started. Press "Connect +" button and keep this page open in a tab.
2.1 Get your API credentials
Log in to your Binance Pay Merchant account. Make sure you are in live mode.
Visit Developers section > API and press the "Generate API Key" button.
Give your key a name, for example Checkify Plus.
Pick the following permissions: Enable Reading, Process Payments, Refund Payments.
Do not impose any IP access restrictions: pick Unrestricted.
Press Submit.
You will get a success message and a set of keys, which can be copied.
Return to admin > Payment methods > Binance Pay and paste the two values in the appropriate fields.
Press "Connect +" button in the bottom right corner of the interface. You will get a success message.
Proceed to webhook configuraiton.
2.2 Configure the webhook
Webhooks are required for real-time exchange of events (status updates) between Checkify Plus and the crypto processing gateway. Follow the steps below to create a new webhook with some of the required settings:
Binance Merchant Dashboard > Developers > Webhooks.
Create a new webhook with required event type.
Pick Order Notification for establishing payment notifications.
Add the webhook URL. The format is:
https://pay.checkify.plus/payments/webhook/binance
This link is also available in the Checkify admin > Payment methods > Binance drawer, and can be copied in one click from there.
Confirm your actions.
Now, you may open the preview mode in the admin, or visit a buy link of your choice to view this payment method on the checkout page.
Binance Pay - Checkify Plus integration is active and is visible among the available payment methods for the checkout
2.3 Additional options
When adding Binance Merchant Pay as a payment method on Checkify Plus, you will also able to configure additional options:
i. Currencies.
You can stick to the default list of available currencies to provide a broad, localized experience for international buyers. Otherwise, it is possible to fine-tune your currency preferences for the checkout page by de-selecting specific currencies that do not align with your business model or settlement requirements.
ii. Target countries.
You can select specific countries or regions for which this payment method will be displayed.
3. Testing
It is not recommended to perform frequent and repeated live tests with small amounts on the production environment. However, it is still possible to have a test of Binance - Checkify integration before the full-scale launch:
Create a product on Checkify Plus, worth at least EUR 0.5 or equivalent.
Sell it via Checkify Plus checkout page.
Visit your Binance Pay Merchant account > Transactions to find the order there.
Do the same on Checkify Plus > Orders, to ensure everything is consistent and nothing is lost.
4. Supported currencies
The full list of fiat currencies for Checkify Plus - Binance Pay integration is given below. Your customers can proceed to paying via this crypto platform if they get their checkout in one of them:
AUD, Australian Dollar
BRL, Brazilian Real
CAD, Canadian Dollar
CHF, Swiss Franc
CNY, Chinese Yuan
CZK, Czech Koruna
DKK, Danish Krone
EUR, Euro
GBP, British Pound Sterling
HKD, Hong Kong Dollar
HUF, Hungarian Forint
ILS, Israeli New Shekel
INR, Indian Rupee
JPY, Japanese Yen
KZT, Kazakhstani Tenge
NOK, Norwegian Krone
NZD, New Zealand Dollar
PLN, Polish Zloty
RUB, Russian Ruble
SEK, Swedish Krona
SGD, Singapore Dollar
THB, Thai Baht
TRY, Turkish Lira
UAH, Ukrainian Hryvnia
ZAR, South African Rand
USD, United States Dollar
5. Resolving common issues
🙀 How do I link a created order with a Binance payment received?
When the order is placed successfully, there is always a set of data associated with it. It is provided in the Orders section of the Checkify admin. The IDs for orders in this section match the payment description in the Transaction section of your Binance Merchant Pay account.
🙀 How do I refund the payment for an order received via Binance?
Cryptocurrency payments are irreversible on the blockchain, meaning they are not subject to traditional credit card chargebacks. While a refund can be issued by the merchant, customers cannot force a reversal via a bank or card network. This makes the transaction final, eliminating chargeback fraud risk for your business. In the event of any disagreement, resolution is handled directly between the merchant (seller) and the customer (buyer). If you agree to a refund, visit your Binance Merchant Pay account to initiate a refund transaction from there.
🙀 How can I adjust texts for my section on the checkout to give more context to buyers?
It is possible to modify nearly every word on checkout pages by Checkify, so you can adjust the texts depending on your business needs and target geo. Visit admin > Localization section. Buyers will see new texts on checkouts once applied and saved there.
🙀 Which crypto payment processors, apart from Binance Merchant Pay, are available for the checkout page?
Currently, Checkify Plus customers can collect crypto payments via Binance integration only. More options can be added in future, if we see a growing demand. At the same time, it is possible to adjust Checkify's checkouts for accepting crypto and collect payments even without any specific integration. This case study explains more.
Additionally, you may benefit from the growing number of traditional payment processors integrated with Checkify Plus. Find out more here.