By
Tolu Ajiboye
April 8th, 2024
In addition to crypto payments, WorldPay’s payment channels will also support Alchemy Pay’s NFTs checkout.
Cryptocurrency payment gateway Alchemy Pay has forged a strategic partnership with WorldPay to enhance its business offerings. Through this collaboration, the company is set to integrate WorldPay’s Visa Inc (NYSE: V) and Mastercard Inc (NYSE: MA) payment rails into its platform, facilitating seamless crypto purchases with credit and debit cards.
According to an announcement on December 19, the company said the collaboration is part of its strategic move to amplify its payment channels and elevate its business capabilities.
Strategic Expansion of Payment Channels
Since its establishment in 2017, the Singapore-based payment firm has been instrumental in connecting crypto with traditional fiat currencies on a global scale.
Alchemy currently supports payments across 173 countries in the world. It also offers support to over 50 fiat currencies through platforms such as Google Pay, Apple Pay, domestic transfers, and various mobile wallets in emerging markets. The company has a Crypto Card solution that empowers businesses and token issuers to provide users with branded virtual and physical cards for instant global spending.
In November, the crypto payment gateway introduced rapid payment solutions for the euro and British pound, reducing crypto purchase processing times to “seconds to a few minutes”.
Now, with the integration of Visa and Mastercard payment rails from WorldPay, the company aims to enhance the user experience and offer more favorable fee structures.
Robert McCracken, a senior executive at Alchemy, emphasized the impact of the new partnership, stating that it positions the company to facilitate seamless crypto transactions worldwide.
“Utilizing Worldpay’s extensive global reach, Alchemy Pay is now better positioned to assist our business partners and users in seamless cryptocurrency transactions worldwide, providing enhanced payment experiences and more favorable fee structures,” said McCracken.
Support for NFTs Checkout
In addition to crypto payments, WorldPay’s payment channels will also support Alchemy Pay’s non-fungible tokens (NFTs) checkout. This means digital artwork, in the form of NFTs, will become more accessible to a broader audience through Alchemy Pay’s platform.
WorldPay recognizes Alchemy Pay’s mission to promote the adoption of global digital assets by bridging the gap between Fiat and the Web3 economy.
Nabil Manji, head of crypto and Web3 at Worldpay, said Alchemy’s mission aligns with the company’s goals of connecting the traditional financial ecosystem to the crypto economy.
The company will serve as Alchemy’s payment processing partner, providing its business offerings to ensure that Alchemy achieves its business goals.
“As a global leader in providing payment solutions to the digital asset space, Worldpay is delighted to have been selected by Alchemy Pay as its payment processing partner,” said Nabil Manji, the head of crypto and Web3 at Worldpay.