Alchemy Pay Partners with Worldpay to Enhance Cryptocurrency Transactions
Summary:
Singapore-based fintech firm Alchemy Pay has teamed up with UK's payment facilitator Worldpay. This integration will enable Alchemy Pay users to access Worldpay's Visa and Mastercard networks to buy cryptocurrencies using debit or credit cards. Alchemy, a fiat-to-crypto onboard processor supporting over 50 fiat currencies, has also been expanding its quick payment solutions for the euro and the British pound. This development aims to promote the global adoption of digital assets and bridge the gap between traditional and digital finance.
In a recent development, Alchemy Pay, a finance technology firm based in Singapore, has joined forces with UK-based payment facilitator, Worldpay. The alliance, made public on December 19, will allow Alchemy Pay's clientele to use Worldpay's Visa and Mastercard networks to buy cryptocurrencies via their credit and debit cards. Alchemy Ecosystem's leader, Robert McCracken, stated that this integration further empowers Alchemy Pay to ensure smooth global cryptocurrency transactions for their business associates and customers. Nabil Manji, who is at the helm of crypto and Web3 at Worldpay, noted that Alchemy Pay's objective to instigate global digital asset usage, by linking fiat to the Web3 economy, adheres with Worldpay's commitment to close the gap between traditional and digital monetary systems.
Since its establishment in 2018, Alchemy has been operating as a fiat-to-crypto gateway processor, supporting upwards of 50 fiat currencies via various mobile wallets, along with Google Pay and Apple Pay. On November 30, the company rolled out quick payment solutions for the euro and the British pound, enabling crypto transactions to take place within mere minutes. On November 23, Alchemy was granted a money service license in Iowa, USA. This followed its receipt of a similar license in Arkansas in September.
In a swift turn of events in March, Fidelity National Information Services (FIS), the parent company of Worldpay, stated its intentions to spin off its subsidiary. This comes two years post a monetary deal worth $43 billion in 2019, resulting in FIS receiving a write-off of $18 billion on the transaction.
Worldpay has consistently been evolving, by integrating Web3 technologies over time. Back in July 2021, Worldpay entered into an agreement with Okcoin to facilitate the exchange's fiat-to-crypto onboarding mechanism. Later, in October 2022, Fireblocks, a digital asset safeguard platform, initiated a fresh payment engine for vendors, involving Checkout.com and Worldpay as test partners.
Published At
12/19/2023 8:03:24 PM
Disclaimer: Algoine does not endorse any content or product on this page. Readers should conduct their own research before taking any actions related to the asset, company, or any information in this article and assume full responsibility for their decisions. This article should not be considered as investment advice. Our news is prepared with AI support.
Do you suspect this content may be misleading, incomplete, or inappropriate in any way, requiring modification or removal?
We appreciate your report.