Various companies, including Gucci, are starting to allow crypto as a payment method. This, as a concept, is an umbrella format, allowing popular cryptocurrencies like Bitcoin and Ethereum to replace fiat currency.
However, there are other blockchain assets that seek to function as a payment method that enables users to incorporate a ton of alternatives at the same time. ACH is one such asset.
The ACH token proposes an interesting format. It’s a way to implement and establish the benefits of third-party regulation in the world of decentralized assets. Consider reading ahead to learn more!
ACH: A Payment Gateway
Modern merchants are just now starting to adopt blockchain assets as an alternative to fiat currency and credit card payments. It’s an uphill battle, though, as many potential customers are skeptical of cryptocurrencies in general. Additionally, there’s the issue of price fluctuation caused by crypto volatility.
ACH seeks to solve this problem, but not by going around it. In fact, it proposes a system that adopts other currencies, instead of replacing them. It wants to call itself a hybrid payment system.
A Unique Crypto Payment Method
ACH is a token that uses Alchemy Pay to incorporate various types of fiat and crypto payments. It does this in many ways. Primarily, it seeks to bridge the gap between a customer paying in the crypto or fiat they prefer and allows the merchant to accept the payment in the crypto or fiat that they prefer.
A user can Buy Alchemy Pay with ACH tokens, and make a payment that’s backed up by value existing on the Ethereum blockchain. This gateway payment accepts over 300 types of fiat in over 70 countries. Once a transaction enters the ACH ecosystem, it can then be translated to virtually any currency the receiver prefers.
Universal Payments Made Easy
ACH works properly with over 2 million merchants. Its broad reach is, in large part, thanks to its compatibility with many virtual payment methods. The primary way it can do this is via its crypto-linked virtual cards.
You can use the ACH virtual card to link to Google Pay, Apple Pay, and PayPal, all of which work in tandem with the Visa and Mastercard networks. Alchemy Pay also currently supports over 40 cryptocurrencies, all while automatically calculating and including the gas fees in every payment.
While the value of ACH is climbing consistently over time, it’s worth mentioning that deposits for specific payments require a slight adjustment. You should always add an additional amount for every deposit. This should be around 3%. This is to help cover any unexpected gas fees.
A Hybrid Payment System
ACH is one of the best ways to get around local and international payment method barriers. It works with over 40 different cryptocurrencies and is compatible with around 300 fiat currencies. And, because it’s available in over 70 countries, ACH is a very viable option for merchants and buyers around the world.
Hopefully, this article provided some essential information on Alchemy Pay and why it’s a great alternative to standard payment methods. If it did, consider taking a quick look at some of the other content on the site!