Existing Wise peer-to-peer (P2P) payment method typically require buyers to make payment, then manually mark the order as paid, and wait for sellers to release the purchased assets to them. In order to safeguard both parties, certain precautions are necessary during a P2P transaction. Typically, buyers are required to present proof of payment, which sellers must manually verify before they release the assets. This can be a cumbersome process. 

By automating the payment verification and asset release process, buyers can receive their newly purchased assets instantly and sellers don’t have to check each order payment or release assets manually. Essentially, the new automated payment methods enable our platform to automatically process the release of crypto held in escrow without manual intervention.

Convenient

The introduction of an automated payment feature eliminates the need for buyers to send proof of payment, as well as the waiting time for payment verification by sellers.

Speedy

The entire payment process is automated and integrated with a payment service provider that enables us to process payments faster. The instant release of assets means no unnecessary order delays for either party. 

Secure

Buyers will be pleased to note that only whitelisted merchants (identifiable by a pink Lightning badge) can use this payment method on the Binance P2P platform. This policy is enforced to ensure that buyers trade only with trusted counterparties.