• 26 May, 2024
News

Alchemy Pay Integrates Google Pay, Allowing Users to Purchase Crypto Using Fiat Currency Funds

Alchemy Pay, a Singapore-based fiat-crypto payment gateway, announced on Monday that its on-ramp now supports Google Pay, allowing users to purchase cryptocurrencies quickly, easily, and securely using their fiat currency funds. 

The move is part of Alchemy Pay’s effort to take crypto accessibility to the next level with its direct-to-customer services, including its On & Off-Ramp and NFT Checkout. Since its launch in June 2022, these ramp payment solutions have been integrated by numerous Web3 platforms and token issuers of all sizes.

This is a significant step towards expanding crypto accessibility, especially for those new to the cryptocurrency world. According to the announcement, the partnership will provide users with a more direct way to make crypto purchases using fiat payment methods while allowing them to custody their own crypto once purchased, a key feature of the decentralized Web3 movement. 

Mobile wallets have been steadily gaining payment market share year on year. Along with Apple Pay (also supported by Alchemy Pay), Google Pay takes a significant portion of that mobile wallet market.

Google Pay is available to users on Android devices as well as Apple iPhones. It makes payments more convenient for users and now Alchemy Pay has added it to make crypto purchases more convenient than ever. reads the blog.

In addition to Google Pay and Apple Pay, Alchemy Pay supports Mastercard and Visa in 173 countries, SEPA in Europe, and popular regional payment methods in emerging markets such as GCash in the Philippines, OVO and Dana in Indonesia, and Pix in Brazil.

Alchemy Pay’s founding team’s experience in the traditional finance and fintech payments space has given it an advantage over its competitors. Recently, Visa listed Alchemy Pay as an official service provider within its Third Party Agent Program, confirming its credentials in the traditional payments space. 

Additionally, the announcement notes that Alchemy Pay has formed solid partnerships with major networks and services like Polygon, Avalanche, Algorand, Binance, and Arbitrum, demonstrating years of crypto experience.

While the team is focused on providing mainstream-friendly payment solutions that connect everyday people to crypto, the recent integration of Ethereum Name Service (ENS) and support for Binance Pay have also won favor with crypto natives. 

Alchemy Pay currently supports Google Pay in several currencies, including USD, EUR, KRW, SGD, AUD, TWD, TRY, CAD, JPY, AED, NZD, and HKD.

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