Alchemy Pay, a payment solution that supports 173 countries, recently announced that it will support Samsung Pay. This move brings cryptocurrency a step further in payment applications. More than 500,000 Alchemy Pay virtual card users can now use their cryptocurrency for retail payments in 24 countries where Samsung Pay is supported. Although the integration of cryptocurrency charge cards/virtual cards into mobile payments is not new, this move still adds to the popularity of cryptocurrency payments.
Integrating digital payment solutions makes it easy to pay for living expenses with cryptocurrency
Founded in Singapore in 2017, Alchemy Pay is a payment solution that connects fiat and cryptocurrency and has more than 500,000 users in 173 countries.
Samsung Pay is a payment solution specially developed by South Korea's Samsung Group for its Samsung mobile phones. Users can turn their mobile phones into debit/credit cards through simple operations, and touch the mobile phones to the credit card machine to complete the payment. Samsung Pay supports regions including Asia, Africa, North America, South America, Europe and Australia. Accepted by millions of merchants, processing billions of dollars in transactions annually.
How to use Alchemy Pay to bind Samsung Pay:
Register on Alchemy Pay’s website and apply for a virtual card
Follow the instructions on your Samsung phone to add an Alchemy Pay virtual card
Once completed, you can complete cryptocurrency payments at millions of merchants
Samsung Pay currently supports payment platforms including ChatGPT Plus, Apple Store, Midjourney, Amazon, Netflix, Facebook, eBay, etc. Users can use this convenient service to pay for daily needs with cryptocurrency.
Nearly 30% of the respondents have used cryptocurrency for payment, which shows that the market still has room for growth.
This is the second time Samsung Pay has partnered with a cryptocurrency payment solution, having previously partnered with Swipe to use the Swipe Visa charge card in the Samsung Pay wallet.
Alchemy Pay has also gradually integrated mobile payment solutions such as Apple Pay and Google Pay. It is understood that Alchemy Pay plans to expand by supporting more digital payment platforms and ensuring compatibility with major card settlement networks such as Visa, Mastercard and American Express. its coverage.
A previous survey of more than 1,000 cryptocurrency users found that 29% of respondents had used cryptocurrencies for payments, an increase of 6% compared to 2022. The most popular areas for cryptocurrency payments are online shopping (57%) and payments to family and friends (49%). In addition, 53% of respondents would consider paying/receiving salary via cryptocurrency.
The author adds: Although Alchemy Pay requires users to complete KYC and vigorously promotes currency purchases in supermarkets in Taiwan, it has not yet entered Taiwan's VASP list. It remains to be seen whether Samsung Pay can be used to bind Alchemy Pay and its compliance in Taiwan. (Supermarket currency exchange provider! Payment provider Alchemy Pay provides convenience supermarkets in Taiwan to buy coins with cash. Is Alchemy Pay a Taiwanese VASP?)
This article Alchemy Pay joins forces with Samsung Pay, virtual card supports payments at millions of merchants around the world, first appeared on Chain News ABMedia.
