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October 9, 2020updated 12 Oct 2020 10:03am

Alchemy Pay and QFPay kick off digital currency payments for Shopify merchants

By Mohamed Dabo

Alchemy Pay, a provider of hybrid digital and fiat payment solutions, announced that it will be launching its hybrid fiat and cryptocurrency payment services for ecommerce players on Shopify through Alchemy’s partnership with QFPay.

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QFPay, a fiat payments supplier to over 1.2 million merchants, is a payment service provider of Shopify and the co-developer of the hybrid payment solution.

Shopify users from countries including UK, US, Singapore, Thailand, Indonesia, Hong Kong and more can now begin to accept nine top digital currencies, namely BTC, ETH, BCH, BNB, BUSD, USDT, GUSD, LTC and ACH – the multifunctional utility token issued by Alchemy.

The hybrid payment system is the world’s first all-in-one payment gateway that can conduct both blockchain and fiat payments, including credit cards, Alipay, WeChat Pay, Hong Kong’s FPS and other mainstream fiat payment methods.

Consumers can pay in digital currencies using any wallet of their choice

Consumers shopping on Shopify’s partners using their PC browser can pay in digital currencies using any wallet of their choice.

Shoppers on mobile apps or browsers will need to pay via partnered wallets of Alchemy.

The blockchain space has witnessed significant progression in development and adoption in recent years, including world-renowned brands announcing digital currency acceptance at their retail and online stores.

Commenting on the launch, Shawn Shi, Alchemy Pay’s Head of Product, said:

“This launch effectively puts the power of cryptocurrency acceptance in the hands of Shopify eCommerce merchants who serviced over 218 million consumers in 2019. We’re truly excited to see how far this step will propel the cryptocurrency space forward!”

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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