John Tan, CEO of Alchemy Pay, joined Neo Global Development’s AMA series, Neo Live, on Wednesday, Nov. 17. Alchemy Pay is a hybrid crypto-fiat gateway and payments services provider used by more than 3,000 physical businesses and major eCommerce platforms like Shopify. The platform recently announced plans to integrate support for NEO to make payments.
In the AMA, Tan discussed the hybrid cryptocurrency and fiat-based services Alchemy Pay offers, partnerships the team has established across traditional business and blockchain sectors, the purpose of the ACH token, and next steps.
The full transcript can be found below:
Panda skiing (Neo Telegram admin): Alchemy Pay powers seamless crypto and fiat acceptance for merchant networks, developers, and financial institutions, and powers adoption of blockchain technology by making crypto-based investment and DeFi services readily accessible to consumers and institutions in the fiat economy.
John Tan is the CEO of Alchemy Pay. John is a business growth specialist with eight years of experience leading the business development functions at and professional services agencies. Previous roles also include consulting for Fortune 500 companies, including Honeywell, RSA, DBS Bank, and more.
He joined Alchemy Pay in 2019 in a business development role, and drove the growth of Alchemy Pay’s payment business by securing Alchemy’s initial base of merchant networks, including clients such as Hong Kong’s Pricerite, Singapore’s Ce La Vi, Canadian footwear brand Aldo, multinational Arcadier SaaS, and Midwest Global Asia taxi services with its network of more than 2,500 limousine drivers.
As CEO, John expanded Alchemy Pay’s global presence and drove crypto adoption in the payments, investment, and DeFi sectors through partnerships with industry leaders such as Shopify, Binance, and Huobi, dramatically expanding Alchemy Pay’s potential touchpoints with millions of customers.
Prior to joining Alchemy Pay, John had served as marketing lead for QFPay, business development and marketing manager for Max Polish, and senior consultant for Financial PR. His responsibilities in these roles spanned all internal and external communications, including employee engagement, executive communications and media relations, brand development, sales and marketing pipeline management, and strategic counsel to executive management clients at exchange-listed financial companies.
John Tan (Alchemy Pay CEO): Hi everyone! It’s a real pleasure and honor to be part of this AMA. Thank you for joining us!
Q1: What is Alchemy Pay?
John: Alchemy Pay started in 2018 and pioneered the world’s first hybrid crypto and fiat payment gateway, first launched in Singapore and Hong Kong in 2019.
Our payment system enables businesses and merchants to accept both fiat and crypto payments via an all-in-one system across online and offline environments.
Today, we are in over 65 countries and have since integrated more than 200 fiat payment channels, which we leverage to help bridge the fiat economy to the crypto world – driving overall crypto and blockchain adoption.
Q2: What differentiates Alchemy Pay from other payment gateways?
John: Alchemy Pay provides an all-in-one hybrid fiat and crypto system instead of pure fiat or pure crypto payment gateway. This is critically important to the overall adoption of crypto and blockchain services.
A good example in the payment sector: most merchants and businesses are unaware of the rapid growth of the crypto industry, as such, are unwilling to start taking on a whole new payment system – be it integrating API or taking on a new payment terminal – to start accepting cryptocurrencies.
With our payment system, merchants welcome our solution with wide open arms as they can accept fiat (cards, mobile wallets, bank transfers) and cryptocurrencies.
This played a vital role in our expansion across the globe to partner with major industry leaders such as Shopify, Arcadier, and other leading merchant networks.
Q3: How does support for NEO benefit Alchemy Pay?
John: Alchemy Pay’s mission is to bridge the fiat and crypto economies – in simpler terms, we aim to drive the adoption of DeFi, crypto payments, and other blockchain services for the sustainable growth of the crypto industry.
With our integrations into the crypto world and our fiat payment channels, we make it easy for those new to or are not already in the cryptosphere to access the benefits brought about by blockchain technology.
For example, projects building on the Neo blockchain can now offer consumers worldwide access to their services without paying their utility tokens. Alchemy Pay works in the background to facilitate fiat to crypto via our integrations with crypto exchanges and fiat payment rails.
Q4: What are some of Alchemy Pay’s most recent collaborations or developments?
John: In the past year, Alchemy Pay has continued to work with industry leaders in the crypto and fiat world to create real-world use cases for crypto payments. For instance, we have partnered with Shopify to enable accepting major crypto tokens for our recent partners’ tokens such as Neo, Polygon, Elrond, Tron, and many more.
We have continued to expand into other regions to create utilities for tokens and coins. We have recently been working on navigating regulatory frameworks and business environments to penetrate the Middle East region.
We are also starting to partner and integrate with major wallets, such as Binance Pay, to make crypto payments instant and transaction fee-free for payers.
Many more exciting developments are in Alchemy Pay’s pipeline!
Q5: What is on Alchemy Pay’s roadmap?
John: We are starting to expand our business offerings by leveraging our robust infrastructure. Some of these services include direct fiat-to-crypto investment and crypto yield products, remittance services, and other value-added services we’ll announce in the near future.
We will also continue to enhance our crypto-linked cards services as well as expand our payment business coverage by securing licenses and partners with massive merchant networks.
Last but not least, look out for the Blockchain Infrastructure Alliance, which we have established jointly with industry leaders such as Neo, Polygon, Near, and many others to drive the overall enhancement of the necessary infrastructure that will facilitate global blockchain adoption.
Q6: How long has Alchemy Pay been around, and what can users look forward to?
John: About 3.5 years now, but our management team has decades of experience in the payments and investment sectors.
We are working on a roadmap that will shed some light on expectations for the coming 12 months. Though, with our stellar team, I’m sure we will secure much more than our own expectation – as we did in the past few years.
Q7: Does Alchemy Pay have an ambassador program?
John: We have realized that many of our supporters are well connected with potential partners and industry leaders.
We are working on an ambassador cum BD role that we are prioritizing right now. We’re seeking talented individuals and teams to accelerate our growth, business- and community-wise.
Keep a lookout on our Telegram, Twitter, and LinkedIn for this upcoming announcement/post.
Q8: What is the role of the ACH token in the Alchemy Pay ecosystem?
John: The ACH token sits at the heart of our ecosystem to drive the overall adoption of our payment system and solutions. These include paying for transaction fees, collateral-pledging to use our payment gateways to mitigate fraud and AML risks, incentivizing crypto transactions in the form of ACH token rebates, governance, and more.
Keep a lookout for our new website, which should be live in the next few weeks, illustrating our tokenomics and how demand for our ACH token will scale according to our business growth.
Q9: How does Alchemy Pay improve the cryptocurrency transaction experience for its users?
John: Our solutions are institution-grade and built for mass adoption by businesses, developers, and merchants. The Alchemy team has deep-rooted experience working with these target audiences and emphasizes ensuring our solutions are easily integrated and used by our clients’ frontline employees.
Q10: Where can I find the ACH token?
John: Our tokens are available on top crypto exchanges such as Coinbase, Huobi, Coinone, and Poloniex. We are constantly working with many more leading exchanges to make ACH accessible to everyone, no matter where they are.
Check out our website or “markets” tab on the Coinmarketcap website to find where you can purchase the ACH token.
Panda skiing: Thank you, John! It was a pleasure having you with us today. We look forward to all the great things to come from Alchemy Pay.
John: I’m thankful for this opportunity to interact with the Neo community and appreciate everyone’s time to join us and sharing your lovely questions!
Note: Some edits have been made for formatting and readability.
The full AMA can be found at the link below:
About The Author: Dylan Grabowski
Dylan is a reformed urban planner with a passion for covering the Neo ecosystem. His objective as a writer for Neo News Today is to report news in an objective, fact-based, non-sensational manner. When not behind a computer screen, he can be found in the mountains rock climbing. Find Dylan on Twitter (@GrabowskiDylan).
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