Introducing BNBPAY, a crypto payment gateway that was decentralized, scalable, and tailored specifically for merchant transactions.

Singapore, Singapore, Nov. 23, 2021 (GLOBE NEWSWIRE) -- The rise of blockchain and DeFi have shown that technological innovation has the power to completely reshape the financial landscape. According to BNBPay co-founder James Zhang, there are still many problems in finance (and transactions in particular) that require creative solutions. Operating under the mission to sculpt the future of cryptocurrency payments and to change the way these transactions are conducted is the BNBPAY project.

BNBPAY is led by a group of payment specialists and industry pioneers with decades of combined experience in the retail point of sale (POS) and commerce industries. Together their mission is to become the most widely used crypto payment for commerce, including e-сommerce and brick and mortar.

“We are here to retake control. Cryptocurrency gives us a better alternative, a way to give the power back to small businesses.” says the BNBPAY Team

Rewriting the rules

The creation of this platform is built on three core principles: trust, immutability, and efficiency, all of which are said to be the core of building the payment industry’s decentralized digital economy. BNBPAY offers an alternative to traditional payments to Visa, MasterCard, and PayPal, which charge nearly 3.9% per transaction (between 2-4% for merchants) — further operating without a single point of failure and the fear of third-party monitoring.

Underlying BNBPAY will be the native BPAY token, available for purchase through PancakeSwap and BitMart. In contrast to other cryptocurrency exchanges, BPAY cannot be mined and exists in a finite supply of 10 billion, 20% of which has been burned.

Running on the Binance Smart Chain (BSC), and utilising ERC-1363 technology allows the BNBPAY payment system to deliver fast, affordable and transparent crypto payments at a fraction of the cost of traditional payment gateways, with an introductory rate of only 0.5%. Additionally, users may also be rewarded with BPAY tokens when they spend. Holding tokens will also enable investors to take advantage of near-instant transactions and allow investors to stake BPAY tokens for additional rewards. The token is said to be just the beginning, as BNBPAY plans to one day become chain agnostic by utilizing bridging technology to encompass crypto from across different blockchains, while simultaneously ensuring the cheapest and fastest blockchain is used to ensure fees are kept to a minimum.