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Singapore-based fintech startup Alchemy Pay joined hands with Worldpay to enable users to purchase cryptocurrencies through credit and debit cards.
What Happened: Alchemy Pay is partnering with U.K.-based Worldpay to grant access to the formers Visa and Mastercard payment rails.
Alchemy Pays mission to promote the global adoption of digital assets by connecting fiat to the Web3 economy is aligned with Worldpays role in bridging the gap between traditional and digital finance, Nabil Manji, the Head of Crypto and Web3.0 at Worldpay commented.
Worlpays payment channels will also support Alchemy Pay's NFT Checkout, making non-fungible tokens (NFTs) accessible to a wider audience.
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Why It Matters: Alchemy is a fiat-to-crypto onboard processor supporting more than 50 fiat currencies through Google Pay, Apple Pay, and various mobile wallets.
Worldpay was acquired by the fintech giant FIS FIS in 2019. In July 2023, FIS sold its majority stake in Worldpay to private equity firm GTCR. The deal was valued at $18.5 billion, allowing FIS to retain 45% ownership.
Daily, Worldpay handles more than 130 million transactions across mobile, online, and in-store platforms, supporting operations in more than 146 countries and dealing with 135 currencies.
Worldpay has forged partnerships with major crypto entities, including Fireblocks, Circle, and crypto.com, among others. Also, in 2022, Worldpay was the first global merchant acquirer to provide direct settlement in USDC.
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