Central Indonesian Bank issued a license to Alchemy Pay
Credits: Nikki Asian Review

Central Indonesian Bank issued a license to Alchemy Pay

Alchemy Pay has obtained a license from the central bank of Indonesia to operate remittances and fund transfers in cooperation with local fintech firm Berkah Digital Pembayaran. Announcing the news on Feb. 27, Alchemy Pay noted that Bank Indonesia issued the licenses jointly to Alchemy Pay and Berkah Digital’s platform BDPay, enabling the firms to offer better payout methods and reduce associated operating costs.

Singapore-based Alchemy Pay is known for its provision of on & off-ramps, crypto payments, and NFT checkout to Web3 platforms. PT Berkah Digital Pembayaran operates from Indonesia in the field of financial technology and is known primarily for BDPay that helps clients to transfer to multiple accounts and electronic money at a lower price than conventional methods and provides a virtual account for the topup method.

Indonesian Central Bank
Credits: – The Halal Times

Launched in 2021, BDPay enables personal transfers (payment acceptance) and corporate transfers (payments). It also offers clients payroll services and transfers via API. Certified by ISO/IEC 27001:2013, it directly connects with bank APIs, making it easy to transfer to 136 banks in Indonesia. It facilitates same-day transfers and has developed support for community needs with agents distributed across Indonesia.

Alchemy Pay’s on-ramp supports Mastercard, Visa, Google Pay, Apple Pay and multiple regional mobile wallets and domestic transfers in 173 countries to allow users to purchase crypto quickly, easily, and securely using their fiat currency funds. The Singapore-based fiat-crypto payment gateway is taking crypto accessibility to the next level with direct-to-customer services with its on & off-Ramp and NFT checkout. These ramp payment solutions have been integrated by numerous Web3 platforms and cryptocurrency token issuers of all sizes.

A 2000 Rupiah Indonesian Bank Note with a Gold South African Krugerrand ...
Credits: Dreams Time

The official site of Bank Indonesia has listed Berhah Digital as a “Payment Service Provider”. The Singaporean Alchemy Pay has secured a considerable reputation for offering off and on-ramps, NFT checkouts, and crypto payments to companies in the Web3 sector. Berkah Digital provides its services from Indonesia across the world of financial technology.

It is particularly famous for BDPay assisting customers to transact electronic money to several accounts and at an economic price as compared to the traditional methods. It additionally offers a virtual account dealing with the top-up method. BDPay was introduced back in 2021. It enables individual transactions as well as corporate transactions. Moreover, it additionally lets the users avail of transactions and payroll services via API.

Established in 2018 in Singapore, Alchemy Pay is a major global crypto-to-fiat payment platform known for partnerships with crypto giants like Binance exchange. The firm also operates its own utility token, Alchemy Pay (ACH), issued on the Ethereum blockchain. ACH is a major part of the Alchemy Pay network, providing transaction fees, network rewards and other processes.