Cryptocurrency payment firms Alchemy Pay and Worldpay have started a new business venture. Alchemy Pay account holders are able to access VISA and Mastercard payment options from Worldpay.
Investors’ Access to VISA and Mastercard
Alchemy is based out of Singapore and signed a contract with UK-based payments company Worldpay. The firm issues a public notification that will allow Alchemy Pay investor access to VISA and Mastercard payments from Worldpay.
In this manner, Alchemy Pay will be able to purchase cryptocurrencies using digital payment options with credit and/or debit cards. Robert McCracken, the head of Alchemy network noted that the firm will assist users around the world to make seamless cryptocurrency transactions.
Nabil Manji, head of Web 3.0 and cryptocurrencies at Worldpay, noted that Alchemy has a mission to promote global acceptance of digital assets by bridging fiat with Web 3.0 projects. He further noted that the firm also intends to enable communications between digital and traditional financial networks.
Alchemy Pay Introduces Fast Crypto Payment Solutions with Euro and British Pound
Alchemy has been operating since 2018. The firm offers fiat-to-crypto swaps for more than 50 fiat currencies using Google Pay, Apply Pay, and other mobile-based payment apps.
This new payment service will allow consumers to process cryptocurrency transactions within few seconds to few minutes. On 23rd November, Alchemy received a payment services license in the state of Iowa and the same for Arkansas in September.
Fidelity National Information Service (FIS) the parent firm of Worldpay also introduced a spin-off subsidiary followed by $43 billion in sales in 2019. The purchase of Worldpay led to write-off of $18 billion from the evaluation of a subsidiary for FIS.
Worldpay started various Web 3.0 projects over the years. In 2021, the firm was working with Okcoin and offering technical infrastructure for the fiat-to-crypto program. In 2022, digital asset custodial services provider Fireblocks introduced a new payment engine for online merchants on Checkout.com and added Worldpay as a pilot.
Alchemy Pay Gains Operating License in Indonesia
Alchemy Pay has also received a payment license in Indonesia. The firm signed a business contract with local fintech firm Berkah Digital Pembayaran. The aim of the venture is to enable low-cost remittance options for cryptocurrency investors.
The venture was announced on 27th February when Alchemy Pay confirmed getting a joint certification from the Bank of Indonesia. Alchemy Pa y is investing in various Asian nations to leverage relaxed regulatory requirements.
Berkah Digital is also listed as a payment services provider in Indonesia. The firm offers retail and commercial consumers local and international remittance payment solutions. The forum has also introduced client payroll services using a banking app programming interface working with 136 local Indonesian banks. Alchemy Pay has launched a native token called ACH and operating in 173 nations.
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