The fiat-crypto payment solutions provider, Alchemy Pay (ACH), and GrePay, global acquirer and payments provider, announce their partnership. Grepay has over 100 local payment channels that process over 200k transactions per day. Alchemy Pay will now leverage these channels to connect crypto service providers to their global key markets such as United Arab Emirates, India, Mexico, Brazil, Colombia, Chile, and Pakistan.
As part of the partnership, Alchemy Pay will provide GrePay with cryptocurrency payment acceptance capabilities. This includes Binance Pay and on-chain transactions for popular mainstream cryptocurrencies. As a result, Grepay’s merchants will all now have the option to accept cryptocurrency payments.
Alchemy Pay’s hybrid crypto-fiat payment system allows merchant partners to accept popular cryptocurrencies for instant offline and online payments at a low cost and the system is currently supported in more than 70 countries and reaches more than 2 million merchants.
One of GrePay’s payment channels that Alchemy Pay will first integrate is Payby, a leading United Arab Emirates mobile payment provider. Alchemy Pay will enable crypto service providers such as crypto exchanges to accept Payby and have access to users in the UAE – a key market where demand for cryptocurrency services have risen rapidly amid the nation’s move towards creating a cryptocurrency hub.
With region-appropriate licensing and strong technical expertise, Grepay provides cross-border merchants with secure, convenient local payment products and services. Grepay is deeply engaged in emerging markets and supports 30+ payment currencies with a focus on diversified localised payment capabilities.
The GrePay partnership comes on the back of Alchemy Pay’s recent partnerships with Paytend and NIUM. These partners have considerably increased Alchemy Pay’s capabilities, not only in global coverage and licensing, but also in reduced transaction and operating costs. A recent result of the improved services is MEXC exchange’s integration of Alchemy Pay’s fiat payment rails that enable their users in key new Asian markets to deposit and withdraw fiat currency.
John Tan, CEO of Alchemy Pay, said of today’s announcement, “GrePay expands our global coverage in terms of what we can offer our crypto service partners as well as the crypto payment acceptance that we can offer merchants. The goal, ultimately, is the promotion of easy adoption and use of crypto for the consumer.”
