May 29, 2024
Alchemy Pay Teams Up with Worldpay for Global Crypto Transactions
Latest Cryptocurrency News

Alchemy Pay and Worldpay Forge Partnership Enabling Crypto Purchases via Visa and Mastercard

Alchemy Pay, a Singaporean fintech firm, has solidified a collaboration with UK-based payment processor Worldpay. This partnership, as stated in the announcement on Dec. 19, will enable Alchemy Pay users to access Visa and Mastercard payment networks provided by Worldpay. This access allows them to use credit and debit cards for purchasing cryptocurrencies.

Robert McCracken, the lead of Alchemy’s ecosystem, expressed, “Alchemy Pay is now better positioned to assist our business partners and users in seamless cryptocurrency transactions worldwide.”

Nabil Manji, Worldpay’s head of crypto and Web3, noted that Alchemy Pay’s mission aligns with Worldpay’s role in bridging the gap between traditional and digital finance, promoting global adoption of digital assets.

Established in 2018, Alchemy functions as a fiat-to-crypto onboard processor, supporting more than 50 fiat currencies through platforms like Google Pay, Apple Pay, and various mobile wallets. On Nov. 30, they introduced swift payment solutions for the euro and British pound, reducing processing time for crypto purchases from seconds to a few minutes.

Furthermore, Alchemy obtained a money service license in the state of Iowa on Nov. 23, following approval in Arkansas in September.

In March, Fidelity National Information Services (FIS), Worldpay’s parent company, announced plans to separate the subsidiary after a $43 billion acquisition in 2019 that incurred a $18 billion writedown. Worldpay has consistently integrated with Web3 technologies. They partnered with Okcoin in July 2021 to facilitate fiat-to-crypto onboarding for the exchange. Additionally, in October 2022, the digital asset custody platform Fireblocks launched a new payment engine for merchants, with Checkout.com and Worldpay as pilot partners.

Image by freepik

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