Alchemy Pay Launches Samsung Pay Integration for Crypto Payments

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Veronika Rinecker

Editor

Veronika Rinecker

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Veronika Rinecker is based in Germany, studied international journalism and media management. She specializes in politics and regulation, energy, blockchain, and fintech. Since 2017, she has been…

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Last updated:

October 8, 2024 14:46 EDT

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Alchemy Pay, a major crypto payment provider, took another step towards making cryptocurrencies more accessible on October 8 by integrating its virtual card with Samsung Pay, Samsung’s contactless payment tool.

The new feature allows Alchemy Pay’s virtual card users to spend their crypto holdings at millions of locations worldwide, from online shopping to in-store purchases, and make purchases at popular retailers such as Amazon, Netflix, Apple Store, Facebook, and eBay, among others.

To get started, Alchemy Pay cardholders can simply add their card to the Samsung Pay app and begin using it for everyday transactions.

Crypto Payments Made Easier

The new partnership with Samsung Pay follows the existing Google Pay option, giving Alchemy Pay cardholders more flexibility in crypto spending.

For those unfamiliar with crypto payments, services like Alchemy Pay’s virtual card allow users to spend their digital assets in the same way they would with traditional money.

According to the company’s press release from October 8, Alchemy Pay has ambitious plans to expand its payment options further, including integrating with other major card networks like Visa, Mastercard, American Express, and more.

Alchemy Pay Expands Crypto Payment Options

Founded in 2017, Alchemy Pay has over 1 million users in 173 countries and over 500,000 cardholders. It has expanded its services to include support for popular digital payment platforms.

In 2023, the company integrated Apple Pay into its fiat-to-crypto on-ramp, allowing users to purchase crypto using their Apple devices.

This integration enabled users to purchase crypto with fiat currencies, such as the U.S. dollar and euro, directly through the Apple Pay app. Notably, Alchemy Pay also extended this feature to non-U.S. users, providing a convenient and accessible way to purchase cryptocurrencies.

In June 2024, Alchemy Pay also partnered with Scroll, a Layer-2 Ethereum scaling solution. This integration allows users to access stablecoins Tether (USDT) and USD Coin (USDC) through Alchemy Pay’s platform, which currently supports over 50 fiat currencies.

In August this year, Alchemy Pay announced the expansion of its on-ramp service to 29 European countries. Users in these countries can now make euro-to-crypto transactions using Alchemy Pay’s open banking integration.

Alchemy Pay partnered with over 200 major banks and numerous local banks across Europe to offer this service. These include well-known institutions such as N26, BNP Paribas, HSBC, Deutsche Bank, UniCredit, Swedbank, Revolut, and more.