Introduction

Background

Alchemy Pay wallet API is designed for merchant. In some circumstance, merchant want their users to have a wallet which works in merchant's ecosystem only, here is the functionality lists:

  • 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 merchant's ecosystem with points
  • Merchant can withdraw their balance any time

Flow chart

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Flow description

  • Once a merchant has been on-boarded with Alchemy Pay, the merchant will be provided with the credentials with merchantCode&Key
  • Merchant open a wallet for a user with createUser API, which assigns a fixed USDT address for user
  • Users can either top up the wallet with their USDT asset or buy USDT through the built-in Alchemy Pay's On Ramp function. User's balance will increase accordingly
  • Merchant can query the user's balance with userBalance API
  • Users can redeem USDT to swap merchant's points with balanceTransfer API, merchant's balance will increase and user's will decrease accordingly
  • Merchant can withdraw either USDT token or fiat offline