PayPay, Japan's largest payment network, launched Binance Pay integration on September 30, enabling eligible overseas visitors to make purchases using cryptocurrency at participating offline stores. Merchants receive payment in Japanese yen.
The integration operates through HIVEX, a cross-border payment network. Visitors with verified Binance accounts can fund purchases directly from their cryptocurrency holdings, with conversion to yen occurring at the point of sale.
Payment Mechanics
The feature functions within the Binance app, where users can either display a PayPay payment code for merchant scanning or scan a participating merchant's QR code. Customers can review the exchange rate before confirming payment. Binance supports over 100 cryptocurrencies for this service, including USDT, USDC, Bitcoin, Ethereum, and BNB.
Cryptocurrency is automatically converted to yen during checkout, with funds remaining in Japanese currency after the transaction. Binance notes that payments and refunds are separate transactions, and refund amounts may differ from original payment amounts due to exchange rate fluctuations and applicable foreign exchange spreads.
Access Restrictions
The service is exclusively available to overseas visitors who have completed Binance's identity verification process. Japan residents are excluded from using the feature, including users of Binance Japan.
Accepted merchants vary by location and service type. Exclusions include online platforms, certain taxis, vending machines, PayPay Money-only stores, some barcode-payment merchants, and stores that do not support cross-border payments or require Japanese identity verification. A PayPay sign alone does not guarantee compatibility with the Binance payment route.
