Alchemy Pay, a leading fiat-crypto payment gateway, has entered into a strategic partnership with Mastercard, a global technology leader in the payments industry.
This collaboration is aimed at enhancing the account opening process by verifying authentic users and preventing fraud, thereby bolstering security across digital financial services.
The partnership arises from a mutual recognition of the need to provide a seamless registration experience while ensuring robust fraud detection and risk control measures. Mastercard’s sophisticated account opening solution employs advanced machine learning technologies to differentiate genuine consumers from potential fraudulent actors, enhancing the reliability of customer verification processes.
Mastercard’s identity solutions are integral to organizations aiming to authenticate real consumers effectively. In conjunction with Alchemy Pay, this technology allows for the assessment of users based on their risk profiles and facilitates their navigation through customized workflows, tailored to individual security needs.
Further enhancing the security features, the integration of Mastercard’s account opening API with Alchemy Pay’s offerings such as On & Off-ramp solutions, NFT Checkout, and Crypto Card Solution, empowers Alchemy Pay’s clients with improved protections against identity fraud and other malicious activities. This integration is a testament to Alchemy Pay’s commitment to providing secure and accessible payment solutions.
Alchemy Pay has significantly expanded its payment network, now supporting over 300 payment channels across 173 countries and catering to more than 50 fiat currencies. This extensive reach demonstrates Alchemy Pay’s capability in bridging traditional finance with the emerging crypto and Web3 ecosystems. Moreover, the company’s expertise is recognized through its acquisition of multiple Authorized Payment Institution licenses across various global jurisdictions, including recent approvals in the UK.
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