Introduction

Background

Alchemy Pay wallet API is designed for merchant. In some circumstances, merchant may want or need their users to have a wallet which works only in the merchant's ecosystem, below are the list of functionality:

• Merchant can transaction with user's wallet at a lower rate
• Users can top up the wallet with their USDT asset
• Users can also buy USDT through Alchemy Pay's On-Ramp capacity
• Users can redeem USDT to swap merchant's points, then consume in the merchant's ecosystem with points
• Merchant can withdraw their balance at any time

Flow chart

Flow description

• Once a merchant has been onboarded with Alchemy Pay, the merchant will be provided with the merchantCode&Key credentials.
• Merchants create wallets for their users through the createUser API, which assigns a fixed USDT address for each user
• Users can either deposit USDT to their wallets or buy USDT through the built-in Alchemy Pay On-Ramp function.
• Merchants can query the users' balance using the userBalance API
• Users can redeem USDT to swap to the merchant's tokens with balanceTransfer API. The merchant's USDT balance will increase while the user's USDT balance will decrease accordingly
• Merchants can withdraw either USDT tokens or fiat offline