Visa Has Approved Alchemy Pay As An Official Service Provider For Cryptocurrency Purchase In 173 Countries

Key Points:

• Alchemy Pay is now authorized to engage in merchant solicitation, sales, customer support, merchant transaction solicitation, and merchant training.
• Alchemy Pay can presently handle fiat payments for Visa cardholders in 173 countries in order to purchase cryptocurrencies.

Alchemy Pay, a blockchain payment system, has formally announced that Visa has classified it as an official service provider and that it has been added to Visa’s third-party agent (TPA) program.

TPAs are agents who are not directly connected to VisaNet but provide payment-related services to customers and/or store, process, or transmit Visa cardholder data. The Third-Party Agent Program is a Visa-mandated program meant to guarantee that the customers use third-party agents in accordance with the regulations, the Payment Card Industry Data Security Standard (PCI DSS), and other applicable security standards.

All organizations offering solicitation activities, managed services, and/or storing, processing, or sending cardholder data for clients must register as agents (or on behalf of their merchants or agents). The customers must conduct due diligence checks to verify that they understand the agent’s business model, financial condition, background, and PCI DSS compliance status.

It is advantageous to have strong and direct contacts with all major payment institutions as a payment gateway that facilitates transactions between traditional fiat currency and cryptocurrency. Alchemy Pay, which acts as a ‘bridge’ between traditional finance and cryptocurrency, can currently process fiat payments to purchase cryptocurrencies for Visa cardholders in 173 countries. DEXs, CEXs, crypto wallets, NFT Marketplaces, play-to-earn gaming, DeFi protocols, and specialty projects have all integrated Alchemy Pay’s On & Off Ramp.

The ramp solution is completely customizable and comes with full support via API and/or plugin. In 173 countries, it accepts Mastercard, Visa, and Apple Pay, as well as large-scale banking systems like SEPA in Europe. Aside from global and continental techniques, the ramp supports major regional wallets all over the world, with a special emphasis on rising areas like Southeast Asia and Latin America.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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