Alchemy Pay: Fast, Easy And Secure Payments Globally In 2023

Alchemy Pay is a Singapore-based payment gateway that connects crypto and fiat currencies for businesses, developers, and users. It offers an on & off ramp solution and NFT checkout, which can be integrated via plugin or API, allowing platforms and token issuers to onboard easily from fiat to crypto.

Alchemy Pay has gained popularity in China due to its focus on emerging markets, including China, where there is a growing demand for cryptocurrency payment solutions. The company’s payment gateway seamlessly connects crypto and fiat currencies, allowing businesses and users to transact using a variety of payment methods, including regional mobile wallets and domestic bank transfers.

Alchemy Pay supports payments from 173 countries and accepts Visa, Mastercard, Apple Pay, Google Pay, regional mobile wallets, and domestic bank transfers, with a focus on emerging markets. Its payment solutions facilitate payments for Binance Pay, Solana Pay, and Crypto.com Pay, as well as e-commerce merchants in over 70 countries.

Additionally, Alchemy Pay offers fast access to necessary software development kits (SDKs), plugins, and application programming interfaces (APIs) for online/offline “buy now” processing, including seamless integration with smartphone point-of-sale (POS) apps. Overall, Alchemy Pay has the potential to be a major player in the digital payments space, especially as more individuals and businesses begin to embrace cryptocurrencies.

The Alchemy Pay token, ACH, is an ERC-20 and BEP-20 token on Ethereum and Binance Chain, respectively. Alchemy Pay also has a comprehensive ecosystem that provides governance rights and various incentives to ACH holders. ACH holders can access different tiers of DeFi products and services depending on the size and duration of their pledge. They can also participate in decentralized governance, where they can vote on key business decisions and protocol changes. Alchemy Pay’s transaction rewards incentivize early participation, innovation, and growth of its ecosystem.

Alchemy Pay Founders

The company’s CEO, Nikil Viswanathan, emphasizes the importance of making blockchain technology available to developers, while the CTO, Joe Lau, aims to equip developers with the necessary tools to build blockchain solutions.

Alchemy is supported by prominent investors, including Stanford University, Coinbase, Charles Schwab, and rapper Jay Z, who invested in the company’s $15 million Series A funding round last year. Alchemy seeks to empower developers by providing them with the right tools to build their blockchain solutions, acting as a facilitator for developers seeking to take advantage of the transformative potential of blockchain technology.

How Alchemy Pay Works

By integrating with numerous top blockchain businesses, over-the-counter and crypto exchanges, and remittance firms worldwide, Alchemy Pay facilitates the seamless transfer of funds between fiat and cryptocurrency. The company provides payment channels, APIs, and other SaaS solutions to commercial enterprises and developers, enabling them to access its services.

The Alchemy Pay ecosystem consists of various partners that include end-users, merchants and businesses, transaction service networks, and the developer community.

Partner with the User End

Merchant/ Business Partnership

The main objective of Alchemy Pay is to enable the integration of both fiat and crypto payments into any payment system used by merchants. Their integrated product tracks data and statistics, allowing users and merchants to view historical transactions and related information.

Alchemy Pay offers a variety of services, including:

Smart POS for Cryptocurrency

Cryptocurrency Payment Gateway

• Online and offline access schemes, including SDK, Plugin, API, and Gateway
• Supporting Lightning Network Express Payments
• PullPay supports preauthorization

In-APP Payment SDK

• Providing partners with a Lightning Network-based in-app payment SDK.

Alchemy Pay’s ACH token is a smart contract-enabled ERC-20 utility token with a supply cap. It was created as part of Alchemy Pay’s hybrid crypto-fiat payment infrastructure, which serves as a bridge between the crypto and fiat worlds. The ACH token was pre-mined with a cap of 10 billion tokens on September 4, 2019, and supports a comprehensive transaction infrastructure that allows for seamless exchange between major currencies and major exchange-traded crypto assets. This infrastructure is available to businesses, institutions, and individuals alike.

Token Allocation

The ACH token’s total allocation of 10B tokens is divided over a 60-month period, and logarithmic increment functions are used to increase the difficulty of obtaining rewards as the user base increases. Overall, Alchemy Pay’s ecosystem provides a comprehensive set of features to incentivize payment behavior, growth, and participation while also providing governance rights to ACH holders.

Alchemy Pay has the potential to become a major player in the crypto payment industry as it offers a convenient and easy-to-use payment gateway that connects crypto and fiat currencies. Its global reach, supporting payments from 173 countries with various payment methods, including Visa, Mastercard, and mobile wallets, makes it a promising solution for businesses and individuals looking for a reliable payment gateway.

Moreover, Alchemy Pay’s focus on emerging markets, especially in Asia, where it has partnerships with major companies and payment providers, could lead to increased adoption and growth in these regions. The ecosystem’s various features, such as DeFi rewards, enterprise payment network rewards, and consumer payment network rewards, also provide incentives for users to participate in the ecosystem and hold ACH tokens.

However, the success of Alchemy Pay will depend on various factors, such as competition from other payment gateways and the adoption rate of crypto as a payment method. Additionally, the volatility of the crypto market could also affect the value of ACH tokens, which are an integral part of the Alchemy Pay ecosystem.

Overall, Alchemy Pay has the potential to become a significant player in the crypto payment industry, but its success will depend on its ability to compete and adapt to changing market conditions.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.