Paysafe Partners with Alchemy Pay to Broaden Payment Options for Crypto Transactions

Fazzaco just learned that Paysafe, a global payments platform, yesterday announced a partnership with Alchemy Pay, a notable provider of fiat-crypto payment solutions. This collaboration is set to enhance Alchemy Pay's offerings by integrating Paysafe's suite of payment products, including the Skrill and NETELLER digital wallets, into its Fiat On-ramp solution.

The initial phase of the partnership will see Alchemy Pay incorporating Paysafe's Skrill, NETELLER, and various third-party local payment methods (LPMs) into its system. This integration enables users from 130 countries to use over 40 fiat currencies to purchase cryptocurrencies such as Bitcoin and Ethereum. Additionally, Paysafe's open banking solution will be available in the UK and 15 European countries, allowing users to make direct bank payments for crypto purchases.

The enhanced Fiat On-ramp product will not only support Paysafe's digital wallets but also include LPMs with strong regional presence, especially in Europe. This expansion aims to provide more payment options, reduce transaction abandonment, and minimize payment friction for Alchemy Pay's crypto partners.

Later this year, the second phase of the partnership is expected to be rolled-out, with Alchemy Pay integrating more Paysafe payment options in other markets, including Latin America.

"We're delighted to partner with Alchemy Pay, which like Paysafe has a global footprint," said Micah Kershner, SVP of Crypto & Digital Assets at Paysafe. "The Skrill and NETELLER wallets' large user-base and popularity among crypto holders along with integration of local payment methods will power Alchemy Pay's Fiat On-ramp with more payment options. We're confident this partnership will enhance the payment experience for crypto exchanges and Web3 companies served by Alchemy Pay, driving their future growth."

"At Alchemy Pay, we believe easy fiat-crypto onboarding is key to unlocking the true potential of crypto," commented Robert McCracken, Ecosystem Lead at Alchemy Pay. "Partnering with Paysafe streamlines this process for our users and opens the door to a wider audience, particularly in European countries. Looking ahead, we're excited to leverage Paysafe's expertise to expand into other promising markets like Latin America, bringing the benefits of crypto to an even larger global community."