We run Satqo, so read this with that in mind. Statements about Binance Pay come from its public developer documentation as checked in October 2026; the links are at the end. We could not find a public merchant fee schedule for Binance Pay, so this page does not compare fees for it.
Closed loop or open network?
There are two broad ways to take a crypto payment. In a closed loop, the payer and the merchant are both customers of the same platform, and the payment moves inside it. In an open setup, the merchant gives an address on a public blockchain, and anyone can pay from any wallet or exchange.
Binance Pay's merchant checkout works mainly as a closed loop. According to its developer documentation, in the standard flow the customer opens the Binance app and scans the merchant's QR code. That is fast and familiar for Binance users, and for a merchant whose customers are all on Binance it may be all they need.
An invoice link from a gateway like Satqo is open. The customer can pay from Trust Wallet, MetaMask, Tonkeeper, a hardware wallet or an exchange account, including Binance, as long as they send on a supported network.
Side by side, as of October 2026
| Satqo | Binance Pay (merchant) | |
|---|---|---|
| Who can pay | Anyone with a wallet or exchange account on a supported network; no account needed | Customers who open the Binance app and scan the QR code, per the developer docs |
| How you onboard | Sign up online at dash.satqo.com | Through Binance's merchant onboarding (Binance Merchant Operation) |
| Where the money lands | Your Satqo balance, in the currency paid | Your Binance account |
| Merchant fee | 0.5% per payment; payer covers the network fee | No public schedule found; ask Binance for current terms |
| Networks | TRON, TON, Ethereum, Arbitrum (payouts also on Base) | Payment happens inside Binance |
| No-code tools | Invoice links, reusable pay buttons, POS screen, your logo on the page | QR codes and merchant tools from Binance |
| Spending the balance | Virtual Mastercard with Apple Pay | Depends on Binance's own products in your country |
A worked example: a client without a Binance account
A designer in Bogotá invoices a client in Spain for 600 USDT. The client keeps stablecoins in a self-custody wallet and does not use Binance.
- With a Binance Pay QR code, the client would first need to open a Binance account and complete its verification, or ask the designer for another way to pay. In practice, the designer ends up pasting a plain wallet address, with all the risk of a wrong network or a mistyped amount.
- With an invoice link, the designer sends
pay.satqo.com/…. The client picks USDT on TRON, scans the QR code with their own wallet and pays. The designer receives 597 USDT on the balance (600 minus 0.5%), and the client pays the network fee of the transfer.
If the same client did use Binance, they could still pay the Satqo link: they withdraw USDT from Binance to the address on the invoice, on the network the page shows. Tell them to make sure the amount that leaves covers the full invoice, since exchanges deduct their withdrawal fee.
Who each one suits
Binance Pay is a good fit if…
- nearly all of your customers already use Binance and like paying from the app;
- you already run your business balance on Binance and want the money to stay there;
- you want payments between Binance users to move inside the platform rather than on-chain.
Satqo is a good fit if…
- your customers use many different wallets and exchanges, and you do not want to ask them to open a new account;
- you prefer not to concentrate business income on a trading platform's account;
- you want dated, public pricing: 0.5% per payment, no monthly fee, no Satqo fee on payouts;
- you want to spend the income with a virtual card in Apple Pay, loaded from the same balance. See how the card works.
How to add an open invoice next to Binance Pay
- Open a free account at dash.satqo.com. There is no subscription.
- Create one invoice in USDT, priced in USD if you like, and send it to a client who does not use Binance. The guide on how to create a USDT invoice walks through each setting.
- Add a pay button to your website or bio for repeat products: a link like
pay.satqo.com/b/CODEcreates a fresh invoice for every customer. - Offer both at checkout: "Pay with Binance" for Binance users and "Pay with any wallet" for everyone else.
- Move funds as you need: Satqo pays out to any wallet address, including your own Binance deposit address on the matching network.
Sources: Binance Pay developer docs, Binance merchant help, satqo.com pricing. Checked 7 October 2026.
Frequently asked questions
Do customers need a Binance account to pay with Binance Pay?
In the standard merchant flow described in Binance's developer documentation, the customer opens the Binance app and scans the QR code, so yes, they use a Binance account.
Can a Binance user pay a Satqo invoice?
Yes. They withdraw USDT or USDC from Binance to the address shown on the invoice, on the network the invoice shows, making sure the amount that arrives covers the invoice after Binance's withdrawal fee.
How much does Binance Pay charge merchants?
We could not find a public merchant fee schedule for Binance Pay as of October 2026, so we do not quote one. Ask Binance's merchant team for current terms in your country.
Can I use both Binance Pay and Satqo?
Yes. Many merchants offer a Binance option for Binance users and an open invoice link for everyone else.
Is Satqo available in my country?
Satqo serves businesses worldwide except sanctioned countries and restricted activities listed in its AML policy. The card has its own availability, which depends on your country of residence.