Alchemy Pay, the fiat-payment gateway, achieved a key milestone by having successfully registered under Visa’s Ramp Provider Program.
This registration, made possible via its partnership with Worldpay, marks a new development in Alchemy Pay’s mission to bridge the gap “between traditional finance and the crypto global economies.”
The Visa Ramp Provider Program, effective in multiple regions including APAC, CEMEA, Europe, LAC (excluding Brazil), the U.S., and Canada, provides a framework for third-party agents to “convert fiat currencies into non-fiat currencies like Bitcoin (BTC) and Ethereum (ETH), and vice versa.”
This program is a step forward in Visa’s strategy to enhance digital currency adoption and facilitate transactions across its network.
With this registration, Alchemy Pay solidifies its role as a player in the fiat-crypto payments ecosystem, offering solutions to a range of clients, from crypto exchanges and wallets to everyday merchants “looking to accept digital currencies.”
As a registered ramp provider, Alchemy Pay is positioned to support the demand for crypto-to-fiat conversion services, enabling an efficient payment experience.
Alchemy Pay’s collab with Worldpay and its authorization by Visa has played a role in this achievement.
In December of last year, Alchemy Pay had announced its partnership with Worldpay to enhance its payment capabilities and offer “access to Visa and Mastercard’s payment rails via its On & Off-Ramp services.”
This partnership enables users to buy and sell crypto using their credit and debit cards, improving the CX.
Alchemy Pay has been an official service provider under Visa’s Third Party Agent Program since January of 2023.
As part of this authorization, Alchemy Pay has been able to offer payment-related services to Visa’s clients, reinforcing its position as “a trusted partner in the digital currency space and has been key to its success in completing the Ramp Provider Program registration.”
Ailona Tsik, CMO of Alchemy Pay said:
“Our authorization by Visa, along with our close partnership with Worldpay, will help us serve more merchants and users, enhancing the adoption of crypto payments globally.”
With this registration, Alchemy Pay is set to play a larger role in supporting merchants, businesses, and consumers as they “navigate the world of digital currencies.”
This milestone is part of Alchemy Pay’s compliance efforts to strengthen its position as a “regulated player in the payments ecosystem.”
Alchemy Pay also accelerated its compliance efforts by securing four additional Money Transmitter Licenses in the US, “bringing its total to eight licenses.”
The firm expanded its licensing and compliance framework across Southeast Asia, Europe, and the UK, ensuring that its services meet the “standards of regulatory oversight.”
By working with Visa and Worldpay, Alchemy Pay is set to provide a more inclusive payment experience for users, “accelerating the adoption of crypto payments.”
Founded in Singapore, Alchemy Pay is a payment gateway that connects crypto with fiat currencies for businesses, developers, end users.
With its offerings including On & Off Ramp, Web3 Digital Bank, Crypto Payments and NFT Checkout, Alchemy Pay supports “payments in 173 countries.”
The Ramp is a solution to buy and sell crypto and fiat, integrated by platforms and dApps.
Their Web3 Digital Bank reportedly supports enterprises by providing multi-fiat accounts as well as instant fiat-crypto conversion capabilities.
The crypto payment solution enables merchants to accept crypto payments, while allowing users to spend their crypto assets for “everyday purchases.”
ACH is the Alchemy Pay network token on the Ethereum (ETH) blockchain.