Alchemy introduces Asia’s first Hybrid Payment Solution

The Alchemy Hybrid Payment Solution, which can be conveniently installed as an application on smartphones, tablets and point-of-sales terminals, is aimed at helping merchants accept payments from leading fiat digital wallets in Asia such as Alipay, WeChat Pay, Rabbit LinePay etc. and over 30 popular cryptocurrencies including Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Gemini Dollar and Tether.

Merchants using the Alchemy Hybrid Payment Solution will be settled in the local fiat currency of choice with no settlement risk, for example, SGD in Singapore, HKD in Hong Kong.

“The Alchemy Hybrid Payment Solution is a game changer for the global cryptocurrency market as it propels cryptocurrencies towards truly becoming a global currency. It creates real-life use cases for cryptocurrencies as crypto holders can now spend their cryptocurrencies to purchase goods and services in addition to their investment functions,” stated Patrick Ngan, Co-Founder and CEO of Alchemy. “We will continue to integrate new and popular cryptocurrencies such as Facebook’s Libra to drive usage and liquidity for cryptocurrencies.”

Alchemy is currently in discussions with various verticals in both the fiat and cryptocurrency space including crypto exchanges, OTC platforms, cryptocurrency issuers and other crypto wallets to further enhance the capabilities and payment options of Alchemy Hybrid Payment Solution.

“The Alchemy Hybrid Payment Solution provides businesses with an intuitive application and fiat settlement option so they can accept cryptocurrencies just like a regular fiat mobile payment method,” says Will Leung, Co-Founder and General Manager of QFPay Hong Kong. “Our recent successful launch across Pricerite’s retail chain stores was well received by the general public and crypto community alike. We are heartened by the growing demand for this solution and expect to rollout to more merchants in Hong Kong, Singapore and the rest of Asia in coming months.”

Available for online and offline payments, the Alchemy Hybrid Payment Solution is set to make its online debut by partnering with leading online marketplace platform provider Arcadier who will have the hybrid payment option as part of its payment gateway offering to users of its platform.

“We are pleased to partner with Alchemy to make available a unique payment proposition, allowing both crypto and mobile payments for eCommerce. The partnership will certainly enhance our payment partner ecosystem.” Shared Dinuke Ranasinghe, Co-Founder and CEO of Arcadier Group.