Samsung Pay adds crypto payment option with Alchemy Pay integration

Another cryptocurrency payment method is coming to Samsung Pay, with Alchemy Pay integrating its virtual cards with Samsung’s contactless payment tool.

Alchemy Pay — a major crypto payment provider with more than one million registered users — has updated its virtual card service with a new Samsung Pay integration on one of its virtual cards.

Announcing the news on Oct. 8, Alchemy Pay mentioned that the new Samsung Pay payment feature is being rolled out just a few weeks after the platform completed its integration with Google Pay in September.

500,000 users of Alchemy Pay virtual card can now pay with Samsung Pay

Samsung Pay is a mobile payment and digital wallet service operated by Samsung Electronics.

The new partnership allows Alchemy Pay users to pay using their virtual crypto cards both in-store and online at supported retailers.

Alchemy Pay highlighted that its virtual card users can now make payments on platforms including ChatGPT Plus, the Apple Store, Midjourney, Amazon, Netflix, Facebook and eBay, among others.

A spokesperson for Alchemy Pay told Cointelegraph that the firm expects to see significant demand from indirect users through the integration of Samsung Pay. They stated:

“We already have one million registered users on our ramp platform and 500,000 crypto card users. As we have a lot of business partners, there will be more indirect users that use our product through the integration.”

Alchemy Pay is not the only crypto payment processor that has partnered with Samsung Pay. In 2020, Samsung Pay partnered with the payment gateway Swipe to allow its users to make payments from their Swipe Visa card balances.

Cointelegraph approached Samsung for a comment regarding the latest integration with Alchemy Pay but did not receive a response by publication.

How to get started with Alchemy Pay virtual card on Samsung Pay

To get started, users need to visit the Alchemy Pay website to ensure their virtual card is compatible with Samsung Pay. Then, they can add their card to Samsung Pay using the app and begin making crypto payments.

The user is then instructed to add Alchemy Pay’s virtual card to Samsung Pay using the Samsung Pay app and start spending on the app using the virtual card.

In the announcement, Alchemy Pay highlighted its ambitious plans to continue scaling its supported payment platforms and ensuring “full integration” with key card networks, including Visa, Mastercard, American Express and more.

Founded in 2017 in Singapore, Alchemy Pay already supports some operations on major Samsung Pay rivals including Apple Pay.

Alchemy Pay’s fiat-to-crypto on-ramp rolled out Apple Pay support in 2023, enabling users to purchase crypto on the mobile app in fiat currencies, including the United States dollar, euro and others. At the time, Alchemy Pay said that US dollar payments were also available for non-US users.

Source: https://cointelegraph.com/news/alchemy-pay-samsung-pay-crypto-integration