Today AlchemyPay team have announced that AlchemyPay will be new option for the Shopify merchants. So for those shop owners who want to accept cryptocurrency, they can make use of the 3rd party processor like AlchemyPay for processing Bitcoin, Ether, Binance, BUSD, and few other crypto currencies.
AlchemyPay is Asia's largest POS and online merchant payout processor. It not only supports the fiat currency but it also processes various crypto currencies through it's gateway.
In past payout from the AlchemyPay for the merchants was possible through Fiat currency alone. But now they have integrated the tether blockchains so you can get the payouts pegged to the fiat currency. e.g. USDT, Tether etc.
Image Credit; AlchemyPay
Which countries can use AlchemyPay?
Currently as per the sources, you can find AlchemyPay supporting US, UK, Singapore, Thailand, indonesia and Hong Kong as of now. I am sure as the adoption of the AlchemyPay increases they will cover more countries over a period of time.
What other currencies are available on AlchemyPay?
Check out the below currencies which are visible on the payment page of the Shopify that makes use of the AlchemyPay and QFPay.
Image Credit: Binance
What it means for the shop owners on Shopify?
In past govt regulations limited the users on fiat currency acceptance for the payout. But now acceptance of crypto through dashboard means you can make use of the fiat currency pegged crypto for paying online for various services and goods. Considering with ETH and Bitcoin, you had to worry about churning of transaction fees. Using the BUSD means you are paying less fees and paying in currency which is pegged to the USD. And so less overhead for you and your customers.
Paypal and Shopify accepting cryptocurrencies means there is going to be an explosion of the crypto prices in the top mainstream coins. And there will be more adoption of the blockchain technology and cryptocurrencies around the world. And world will start spending the money without gatekeepers and borders, hopefully soon.