SINGAPORE - Media OutReach - 18
September 2019 - Alchemy Global Payment
Solutions Limited (Alchemy), a global cryptocurrency payment pioneer, which
powers businesses with cryptocurrency payment systems and solutions, has
partnered with Singapore-based Arcadier,
the world's fastest-growing online marketplace builder, and QFPay, a leading digital fiat payment
technology company that serves over 1.2 million merchants across 13 markets in
Asia and the Middle East, to launch Asia's first hybrid crypto and fiat payment
solution (Alchemy 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."
The Alchemy Hybrid Payment
Solution, which brings together the synergies of blockchain technology and
digital payments, has garnered strong interest from industry leaders and
cryptocurrency communities alike.
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. "Payments is integral to the success of all eCommerce businesses. Alchemy's Hybrid Payment Solution allows us to remain at the
forefront of eCommerce innovations and support our users' ever changing payment
Alchemy and QFPay have
already launched the Alchemy Hybrid Payment Solution in Hong Kong with
Pricerite -- the leading home furnishing specialist with over 20 retail chain
stores, marking Hong Kong's first local retail chain to accept both fiat and
cryptocurrencies. In Singapore, the Alchemy Hybrid Payment Solution was
launched with Midwest Global Asia, the largest payment solutions provider for
transportation professionals in Singapore which serves over 2,500 drivers that
provide concierge, tour and transportation services.
About Alchemy Global Payment Solutions Limited
Alchemy Global Payment
Solutions (Alchemy) is a global crypto payment pioneer and leader that provides
businesses and merchants with cryptocurrency payment systems and solutions.
Alchemy leverages on a decentralized payment consensus protocol to connect and
benefit the entire payment ecosystem, from payment partners to merchants and
currency holders. Alchemy's hybrid crypto and fiat payment system is
launch-ready and deployed at over 2000 merchant sales points in Hong Kong and
Singapore since July 2019.
Acardier Pte. Ltd.
Arcadier is the world's fastest-growing
marketplace builder and is the recognised global leader of multi-vendor marketplace
technology with users from more than 170 countries. Founded in 2013 in
Singapore by senior PayPal executives, Arcadier enables enterprises, SMBs,
communities and start-ups to build their white-labelled marketplaces
efficiently and cost effectively. Arcadier's platform supports various
eCommerce models in B2B, B2C, P2P, eProcurement, Service & Rental, and
Sharing Economy marketplace ideas across industry verticals such as retail,
consumer goods, commodities, industrial and services.
QFPay International Limited
QFPay is a leading mobile payment
technology, solution and service provider with presence across 13 markets in
Asia and Middle East. Since its incorporation in 2012, QFPay is empowering
merchants with end-to-end online and offline QR-code mobile payment solutions
and value added services including food ordering services and customer loyalty
programs. To date, QFPay's solutions have served over 1.2 million merchants and
executed over 1 billion transactions. These customers range from large, medium
and small merchants, from luxury fashion and jewellery brands to restaurants
and hotels, exhibitions to convenience store chains.