If I put Binance Pay, Crypto.com Pay or Bybit Pay on my site, what do I actually get as a merchant?

As a Binance Pay merchant, you get a checkout button that takes money from people who already keep crypto on Binance. The customer scans a QR code or logs in to Binance, confirms, and the payment moves inside Binance from their balance to your merchant account. Bybit Pay works the same way inside Bybit. Crypto.com Pay is the one of the three that also takes transfers from outside wallets.

So the real question is not how easy the button is to install. It is whether your customers hold their crypto on that exchange, and whether you are comfortable with your takings sitting there too. Below: who can pay through each button, where the money lands, what each exchange asks of a merchant and what it charges, and how all this differs from a crypto payment gateway that is not tied to an exchange. Terms are given as the three services publish them in September 2026.

What an exchange's pay button actually is

An exchange keeps its customers' coins in its own books. When one Binance user pays another through Binance Pay, nothing is sent over a blockchain. Binance lowers one balance and raises another, the way a bank moves money between two accounts it holds itself.

A merchant account plugs your store into that same book. That is why a payment confirms in seconds and the customer pays no network fee. It is also why the door is built for the exchange's own customers first.

Who can pay you through each button

This is the point that decides whether the button is worth the application. The three services answer it differently:

• Binance Pay: people with a Binance account. Binance's merchant documentation describes the checkout as scanning a QR code in the Binance app or logging in to a Binance account. It does not describe paying from an outside wallet.
• Bybit Pay: people with the Bybit app. Bybit's merchant API describes the same flow: the customer scans your QR code and completes the payment inside the Bybit app.
• Crypto.com Pay: app users and outside wallets. Crypto.com's documentation says customers can also pay from other wallets, such as its own DeFi Wallet, MetaMask or Ledger. Those customers pay the network fee themselves; Crypto.com app users do not.

Here is what that means in practice. A studio sells website templates for 40 dollars. One buyer keeps USDT in a hardware wallet, not on any exchange. With only Binance Pay at checkout, that buyer has to open a Binance account and move coins there before paying. Most people in that spot close the tab.

The reverse is also true. If your customers are traders who live on Binance, the button is the shortest path for them: no addresses, no networks, no fees.

Where the money lands

With all three, the payment arrives in an account at the exchange, not in your own wallet or straight in your bank:

• Binance Pay: crypto in your Binance merchant account. You can price an order in crypto or in dollars and some other fiat currencies; an order priced in fiat is settled to you in USDT or USDC. Getting that money to a bank is a separate step through Binance's own withdrawal options for your country.
• Crypto.com Pay: a fixed fiat amount, paid out in cash or crypto. You set the price in a currency such as dollars or euros and are guaranteed that amount. Payouts go to a bank in USD, EUR, GBP, AUD and more, depending on your jurisdiction, or in crypto such as BTC, ETH or USDC. Each payout currency has its own minimum, which you check in the merchant dashboard.
• Bybit Pay: terms set at onboarding. Bybit's public merchant documentation does not spell out which currency you are settled in or how you withdraw. You learn that when you apply.

One consequence is easy to miss. Your takings live with an exchange and under its rules. If the exchange pauses your account for a compliance review, the money waits with it.

What Binance Pay requires from a merchant

Binance's application guide walks through four steps:

1. Open a Binance entity account. That is a business account at Binance in your company's name. You need it before you apply, and one entity can own only one merchant account.
2. Apply on the Binance merchant portal as a direct merchant. Binance uses this type for physical or online shops selling their own products and services.
3. Pass business verification. Expect a certificate of incorporation, a letter of authorization dated within the last three months, IDs of directors and beneficial owners, and the company's ownership structure.
4. Sign the merchant agreement in the merchant management portal.

Daily transaction limits depend on your account level. Raising them means sending more business documents.

Can you do it without a company?

The current guide starts from an entity account and mentions no route for individuals. Older Binance materials did describe individual merchants with lower limits. If you trade as a private person or sole trader, ask Binance before you build your checkout around the button.

Which countries and businesses are excluded

Binance's list of restrictions for merchants selling to consumers turns away businesses from these countries and regions:

• The Americas. The USA with all its overseas territories, from Puerto Rico to Guam, plus Canada and Cuba.
• Europe. The United Kingdom, the Netherlands, Cyprus and Russia, plus five regions of Ukraine: Crimea, Donetsk, Luhansk, Zaporizhzhia and Kherson.
• Middle East. The United Arab Emirates and Iran.
• Asia. Singapore, Japan, India, Indonesia, Malaysia, the Philippines, Thailand, Vietnam and North Korea.

If your company is registered in one of them, the application stops there.

The same list turns away some kinds of business regardless of country:

• Crypto businesses. Exchanges, coin swap services, custodial wallets, and services that change fiat into crypto and back.
• Unlicensed financial services and gambling. Casinos and betting without a licence are out, as is any unlicensed financial service.
• Card top-ups and arms. Topping up prepaid, debit or credit cards, and selling weapons or ammunition.

What Binance Pay charges a merchant

Binance's public fee page has no line for an ordinary checkout payment. The rows that concern businesses are these:

• Mini Program: 1% per transaction. This applies to businesses running a mini app inside the Binance app. Below 90,000 dollars of volume in the previous quarter, a 1,000-dollar minimum monthly fee is added.
• Payouts: 0.8% per transaction, capped at 5 dollars. This is for businesses sending crypto out to Binance users, not for receiving payments.

The rate for taking payments at your checkout is set in your merchant agreement. Ask for it in writing before you spend a day on integration.

How to open a Crypto.com Pay or Bybit Pay merchant account, and what it costs

Crypto.com Pay

You sign up on the Crypto.com website, and a review takes a few business days. Each legal entity needs its own account. Crypto.com does not publish a country list; it says availability depends on jurisdiction.

On cost, the money comes out at payout rather than at each payment:

• No transaction fee. Crypto.com's merchant documentation says there is no fee per payment and the merchant receives the fiat amount they set.
• A payout fee on every settlement. The amount is shown in the merchant dashboard, not on a public page.
• Extra costs on the way out. A blockchain fee can apply to small crypto payouts, and intermediary banks may take a transfer fee on fiat payouts.

Bybit Pay

Bybit publishes its merchant API openly, but not its merchant application or its merchant fee. The zero fee Bybit advertises for Bybit Pay is what the paying customer is charged. Your own rate, settlement currency and country eligibility come with onboarding, so ask for all three before you commit.

Plugins, QR and API: how each button gets onto your site

Each exchange offers a different set of ways in:

• Binance Pay: WooCommerce plugin, hosted checkout, API. Binance has an official "BinancePay Checkout for WooCommerce" plugin. Without it, your site calls the API and sends the customer to a Binance checkout page with a QR code, which expires after an hour by default. Binance's documentation lists no Shopify integration.
• Crypto.com Pay: ready plugins and API. Crypto.com lists plugins for Shopify, WooCommerce, PrestaShop, Magento 2, Ecwid and OpenCart, plus a direct API.
• Bybit Pay: API only. Bybit documents two integrations, one-off QR payments and recurring payments, and no store plugins.

A plugin ties your checkout to one exchange's customers. If your store runs on WordPress, it is worth weighing the exchange's plugin against the other ways of accepting crypto on WooCommerce, with a plugin or without one.

The other door: a payment gateway that is not an exchange

A crypto processing service works the other way round. It shows the customer an amount and an address, and the customer pays from whatever wallet they already have: a phone wallet, a hardware wallet or an account at any exchange. The service watches the blockchain, sees the transfer and credits the merchant, usually in a stablecoin such as USDT.

That opens the door to everyone who holds crypto, not just one exchange's users. The price is a real blockchain transfer, and the customer carries three things an exchange button spares them:

• The network fee. The blockchain charges for the transfer, and the sender pays it.
• The wait. The payment counts once the network confirms it, which takes from seconds to minutes depending on the network.
• The chance of a slip. The customer has to pick the right network and send the full amount.

Before you sign up with any provider, exchange or gateway, these are the questions worth asking:

• Who can pay? Any wallet, or only accounts at one company.
• What lands in your account? Which currency, and whether you can withdraw it whenever you like.
• What does it cost? The fee per payment and the fee to take money out, both in writing.
• What happens when less arrives? A customer who withdraws 100 USDT from an exchange often sees the exchange's fee taken out of that 100, so 99 reaches you.
• What do they need from you? A company or a private person, which countries, and whether they review your website.
• How does it get onto your site? A payment link, a checkout button, a plugin or an API.

Each answer has a cost attached, and the total is what matters. For what those costs look like in practice, see what a crypto payment gateway costs and how to connect one.

CryptumPay is one of these processing services. The customer needs no account and no app and can pay from the crypto wallet they already use. Whatever coin the customer pays in is converted, and the merchant is always credited in USDT, which can be withdrawn at any time with no minimum amount. CryptumPay charges 1% per successful payment, down to 0.5% at higher volumes, and the merchant can pass the fee on to the customer. It offers payment links, a checkout widget and an API: the widget is a script added to the site's template, and links need no site integration at all. A website that shows what the business does or sells is required for the project review, and registration, identity verification and that review usually take no more than one business day.

If you are weighing several gateways at once, the useful yardstick is the total bill rather than the headline rate, which is how ten crypto payment processors compare by total cost.

What it comes down to

When someone offers you a crypto button, two questions tell you what you are getting.

Who can pay? An exchange's button takes money from that exchange's customers, on that exchange's terms; Crypto.com also lets outside wallets in, and they pay their own network fee. A processing service takes a transfer from any wallet the buyer already has.

What lands in your account? With an exchange, a balance on your account at that exchange, in its currency and under its rules. With a processing service such as CryptumPay, USDT credited to you and yours to withdraw.

If most of your customers already live on one exchange, its button is the easy win. If they are scattered across wallets, the button covers only part of them.

Questions merchants ask

Does Binance Pay work for a merchant in the US?

Not through Binance itself. Binance's merchant restrictions list excludes businesses from the USA and several US territories. Binance.US is a separate company with its own app and rules, so any merchant question there goes to Binance.US directly.

How does paying by Binance Pay QR code work at the checkout?

Your checkout shows a QR code generated for that order. The customer opens the Binance app, scans it, picks one of more than 50 coins to pay with and confirms. Your site gets a notification that the order is paid, and the customer returns to your page. A processing service does something similar with an address QR that any wallet can read, which is also how USDT payment links and QR invoices work without a full integration.

Can I refund a customer who paid me through Binance Pay?

Yes, but only from your side. Binance Pay has no chargebacks, so a customer cannot pull the money back through the exchange. You issue the refund from the merchant portal or through the API, in full or in parts, with up to ten refunds against one payment.

Is there a Bybit Pay API for merchants?

Yes. Bybit publishes developer documentation for two scenarios: one-off QR payments and recurring payments for subscriptions. With a QR payment, the customer confirms each purchase in the Bybit app. With recurring payments, the customer gives permission once in the app when signing up, and later charges go through without asking them again. The documentation is open, so a developer can estimate the work before you apply.