The only downside is this one which is unreasonable, its like a blockchain.com exchange that needs to wait days before it can be withdrawn/transfer.
Please note that funds received in Binance Pay will only be available for transfer to other wallets after 24 hours.
Definitely not the only downside on this. Actually, the biggest downside on this is that you need to undergo identity verification first. That makes this not too attractive for me. Well, to those who don't mind revealing themselves this might be good.
Looks like Binance exchange and CZ are looking to try and earn money in all possible ways and BinancePay may be some alternative for PayPal and similar payment processors.
Problem with this is that I doubt they can make it available worldwide, and United States will probably be excluded from this with some other countries.
Good thing about it is that there are no fees for using BinancePay (for now)
No problem if they won't make it available worldwide immediately. Growth is a gradual process, after all. And this is actually offered to selected Binance.com users only. Which means that citizens of countries who are restricted to use Binance.com like the US citizens will not be able to use this. But who knows in the future?