Alchemy Pay Gets its ‘License to Pay’ in Indonesia

Alchemy Pay Gets its 'License to Pay' in Indonesia

Alchemy Pay, a cryptocurrency gateway platform, recently announced that it had successfully obtained a license from the Bank Sentral Indonesia (BNI), working with a local fintech company called Berkah Digital Pembayaran.

As a consequence, Alchemy Pay will be able to conduct money transfers and payments in the area.

Earlier this morning, February 27, Alchemy Pay made an official release (1). It mentioned that Bank Indonesia had granted an official joint license to Alchemy Pay and the platform BDPay that Berkah Digital operates.

This would allow the companies to provide improved payout ways while lowering operating costs. Also, the license will strengthen these two players’ ability to pay out end users and customers across Asia.

Berkah Digital is mentioned as a parent provider under License Category 3 on the officially affiliated website with the Bank of Indonesia.

The company has gained a lot of bad reputation thanks to its BDPay platform, which provides retail and corporate customers with local and international remittance services.

In addition, customers can take advantage of payroll services and bank transfers made possible through the platform’s application programming interfaces (APIs).

Users can transfer funds between Indonesia’s 136 banks using the BDPay platform. In the release, it is stated:

Because it has direct connections with bank APIs and is certified to comply with ISO/IEC 27001:2013, sending money to any of Indonesia’s 136 financial institutions is simple. It enables same-day transactions and has established assistance for community needs through a network of agents around Indonesia.

 

About Alchemy Pay Crypto Gateway Platform

The Singaporean company Alchemy Pay has garnered much attention for the on- and off-ramps, cryptocurrency payments, and NFT checkout options it provides to Web3 platforms.

The on-ramp for Alchemy Pay is compatible with major payment systems such as Visa and Mastercard, Apple Pay, Google Pay, and other cross-mobile wallets.

Users can make quick and easy purchases of cryptocurrencies using their fiat currency funds thanks to these players’ collective efforts, which facilitate domestic transactions in 173 countries.

Alchemy Pay, a fiat-to-crypto payment gateway, is working on expanding the accessibility of cryptocurrencies by providing direct-to-consumer services, including an on- and off-ramp, as well as an NFT checkout.

Alchemy Pay’s ramp payment solutions have been integrated into various Web3 platforms and crypto token issuers of various sizes.

A few of Alchemy Pay’s most important partners are in Latin America and Asia.

It supports well-known regional competitors in developing markets, such as GCash in the Philippines and Pix in Brazil.

The company will be able to stretch its capabilities in Asia, where the use of cryptocurrencies is growing rapidly due to its recent acquisition of a joint license with PT Berkah Digital Payments.

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