Alchemy Pay Introduces UAE’s Local Payment Methods PayBy and BOTIM Pay for Crypto Purchase
Alchemy Pay, the world’s leading crypto payment solutions provider, has broadened its payment offerings within the United Arab Emirates (UAE) through its On-Ramp service. The inclusion of support for PayBy and BOTIM Pay enables users to efficiently carry out transactions and effortlessly get crypto using the UAE’s fiat currency, AED, through these widely used local payment methods. This enhancement provides users in the UAE with a more convenient and direct method for purchasing crypto, accompanied by a high success rate and reduced fees.
On Alchemy Pay’s On-Ramp, both PayBy and BOTIM Pay feature a transaction limit spanning from 10 to 10,000 AED. KYC verification is not required for orders under 500 USD (equivalent to 1,800 AED). This recent integration shows Alchemy Pay’s dedication to constantly optimize its payment channels, with the goal of improving user satisfaction and expanding service accessibility.
In partnership with the leading bank in the UAE, First Abu Dhabi Bank (FAB), PayBy stands out as a prominent provider of mobile payment services in the country. Offering diverse omnichannel payment solutions, PayBy is a trusted choice for major brands, ensuring secure and customer-centric digital transactions. The well-regarded BOTIM, UAE’s first and only ultra platform, allows its users to experience easy money transfer locally and globally in its BOTIM Pay wallet, also granting users access to a range of financial services. In 2023, transactions through BOTIM registered an impressive sum of over AED 1.30 billion in just four months via its fintech arm, PayBy.
Given its substantial payment throughput, Alchemy Pay is well-positioned to enhance the convenience for users and businesses by enabling crypto purchases through these commonly used payment channels. At present, Alchemy Pay has achieved a wide-ranging integration with renowned payment processors, local e-wallets, and domestic bank transfers, establishing an expansive payment network across 173 countries. This network provides access to an impressive selection of over 300 fiat payment channels.
Leveraging these improved payment capabilities, both Visa and Mastercard have formally authorized Alchemy Pay as an third-party payment service provider. Demonstrating a strong commitment to regulatory compliance, Alchemy Pay has proactively obtained various licenses in diverse countries and regions, encompassing but not limited to the United States, Canada, Indonesia, and Lithuania.
With continually growing payment networks, improved payment capabilities, and user-friendly interfaces, Alchemy Pay is dedicated to simplifying the onboarding process and encouraging the widespread embrace of cryptocurrencies. This dedication fosters increased connectivity between everyday individuals and the flourishing crypto industry.
About Alchemy Pay
Founded in Singapore in 2017, Alchemy Pay is a payment gateway that seamlessly connects crypto with traditional fiat currencies for businesses, developers, and end users. With its On & Off-Ramp solution, NFT Checkout, Crypto Card and Crypto Payments, Alchemy Pay supports payments in 173 countries.
The Ramp is a one-stop solution to buy and sell crypto and fiat, easily integrated by platforms and dApps according to requirements. The NFT Checkout enables direct purchases of NFTs using fiat payment methods. The Crypto Card solution empowers businesses and token issuers to provide users with branded virtual and physical cards for instant global spending. ACH is the Alchemy Pay network token on the Ethereum blockchain.
