Alchemy Pay, a leading fiat-to-crypto payment gateway, has partnered with Mastercard to enhance user verification and combat fraud during the application process. This collaboration leverages Mastercard’s advanced identity solutions and machine learning technology to create a secure and streamlined experience for Alchemy Pay users.
Mastercard’s Account Opening Solution plays a key role in the partnership. This solution utilizes machine learning to effectively distinguish between genuine users and potential fraudulent actors during the application process. This allows Alchemy Pay to:
Strengthen Risk Control: By identifying user risk levels, Alchemy Pay can implement appropriate workflows for each user, ensuring a smooth experience for legitimate users while mitigating potential risks.
Enhanced Security: The integration of Mastercard’s API bolsters Alchemy Pay’s security features across its entire product suite, including On & Off-ramp solutions, NFT Checkout, and the Crypto Card Solution. This collaboration empowers Alchemy Pay’s customers with increased protection against identity theft and other malicious activities.
Alchemy Pay’s Global Reach: With a network exceeding 300 payment channels across 173 countries, Alchemy Pay offers support for over 50 fiat currencies. This positions them as a leader in facilitating mainstream adoption of fiat payments for crypto and Web3 services. Their network encompasses popular global payment methods, regional mobile wallets, and local bank transfers, catering to a diverse user base.
Financial Expertise & Regulatory Compliance: The Alchemy Pay team boasts a proven track record of securing Authorized Payment Institution licenses in various regions, including the United States, Canada, Indonesia, Lithuania, and most recently, the UK. This commitment to regulatory compliance underscores their leadership role within the crypto payments sector.
By partnering with Mastercard, Alchemy Pay demonstrates its dedication to providing a secure and accessible user experience within the ever-evolving crypto and Web3 landscape.
