Changing the Payment Game
At BlockShow 2019, Patrick Ngan, co-founder of Alchemy Global Payment Solutions, let us in on the future of shopping—imagine paying with your cryptocurrency as easily as you swipe a credit card. Ngan’s vision is clear: make crypto more accessible, not just for techies but for everyday consumers. He stated that his company is pioneering the first unified crypto-fiat payment solution in Asia.
Why Choice Matters
Ngan emphasized that providing choices to both consumers and merchants enhances their experience. According to him, customers can choose to pay in their local fiat or pick one of their favorite cryptocurrencies. “People in this audience probably have a lot of Bitcoin,” he quipped, illustrating how his platform bridges traditional spending with the crypto world.
Fancy Purchases, Simplified
Imagine walking into a luxury store and pulling out your Bitcoin to buy that glistening bottle of Dom Perignon. Alchemy GPS allows you that freedom. Ngan highlighted their merchant product that lets users flexibly spend their digital assets while shopping. With the Alchemy GPS merchant app readily available on Google Play and the App Store, retailers can effortlessly integrate this payment solution.
Supported Payment Systems
But wait, there’s more! Alchemy supports a host of popular Asian payment systems such as:
- Alipay
- WeChat Pay
- PayNow
- Rakuten Pay
…along with a selection of major cryptocurrencies. This combination aims to streamline transactions and boost crypto adoption among merchants.
Benefits for Businesses
For businesses that can navigate the wild waters of crypto volatility, settling their accounts in cryptocurrency can be quite the thrill. However, for those who prefer the calm seas of traditional accounting, fiat settlements are still on the menu. This dual option makes sure everyone can play, regardless of their risk tolerance.
The Bigger Picture
Ngan encapsulated Alchemy’s goal eloquently: “We want to enable all the popular crypto tokens out there to be accepted by our merchant system. Anyone who buys tokens should be able to easily spend them.” This goal pushes forward the acceptance of cryptocurrencies beyond niche markets and into mainstream consumer behavior.
Future Expansion Plans
The company’s ambitions extend beyond the existing markets of Singapore and Hong Kong. In a strategic move to tap into other crypto-friendly nations, Ngan announced plans to expand into Japan, Korea, and Thailand, with longer-term ventures aimed at the United Arab Emirates and the United States. Buckle up, folks—this is just the beginning!
+ There are no comments
Add yours