BNBPay (BPAY) is a decentralized crypto payment gateway tailored for merchant transactions. BPAY is built on BSC and has no connection with other companies’ products. BSC is a decentralized blockchain network that enables the creation of smart contracts and staking mechanisms for crypto assets. BPAY follows the standards of ERC-1363 (a payable token), which allows traders to make payments in cryptocurrency. Using BNBPay, traders and consumers can purchase through e-commerce and offline merchants. 

Existing payment gateways have an array of problems. Thus, the BNBPay platform aims to solve problems associated with transactional fees, chances of payment failure, cross-border transactions, rewards for staking, and many others. Besides this, BPAY seeks to be the cryptocurrency used on BNBPay DApps. DApps are decentralized protocols built on the Ethereum network. 

BPAY, the token name for BNBPAY, is the core token. According to BPAY whitepaper, tokens are burned to ensure BPAY stays deflationary. Apart from this, 10% tax seeks to be imposed for all trading transactions. The 10% tax is distributed as 5% for auto farming or reflection, where the holders get rewards for holding BPAY. In addition, 3% of transaction fees is allocated to improve the marketing and development of BNBPay products. Lastly, 2% is used for auto buyback to reduce the supply of BPAY.

The core principles of the BNBPay platform to develop a decentralized payment industry are trustless, immutable, and effective. In addition, the platform strives hard to sculpt the future of cryptocurrency payments for e-commerce and offline merchants. 

The whitepaper of BNBPay was published on August 17, 2021. After that, a team of five members launched BNBPAY. John Crypto is the head of the community. Besides, the core team of BPAY includes Teason Phang, the founder and CTO; Zave Huang, the CEO; James, the CCO; and Calvin Cai, the head of merchant.

We update our BNBPay to GBP currency in real-time. Get the live price of BNBPay on Coinbase.