Cryptocurrency payment solution provider Alchemy Pay announced a partnership with payment card services corporation Mastercard to integrate its account opening application programming interface (API). This integration aims to streamline the registration process and improve fraud detection capabilities, thereby advancing risk control measures and bolstering platform security.
The Mastercard Account Opening API aims to streamline customer onboarding processes and reduce friction. All while enhancing fraud prevention measures. It is specifically designed to serve ecommerce companies, marketplaces, and financial institutions.
The API utilizes machine learning (ML) to assist companies in detecting consumers and detecting bad actors throughout the application procedures. This capability will enable Alchemy Pay to categorize individuals in correlation to their risk profiles and help them navigate to the appropriate workflows.
Additionally, the integration will bolster security identification and threat control functionalities throughout the Alchemy Pay product lineup, which encompasses On- and Off-ramp solutions, non-fungible token (NFT) Checkout, and its Crypto Card Solution. This advancement is intended to offer customers improved security measures, ensuring a safer experience across their interactions with Alchemy Pay.
Level up security with @Mastercard!
Together with #Mastercard, #AlchemyPay can better verify authentic genuine users and prevent potential fraud during account application, all while making registration a seamless experience.
This means a smooth signup process for you, and a… pic.twitter.com/mY2yE7aPP9
— Alchemy Pay|$ACH: Fiat-Crypto Payment Gateway (@AlchemyPay) July 11, 2024
Alchemy Pay Expands Global Reach And Crypto Integration With Bitget Partnership
Alchemy Pay provides a broad variety of services and utilizes its expertise in cryptocurrency payments to forge partnerships with numerous blockchains and platforms, encompassing Polygon, TON, Avalanche, ICP, Neo, Arbitrum, Binance Pay, OKX, Bitget, and Lido, among others.
At present, its ramp network has expanded to include over three hundred payment channels throughout 173 countries, facilitating transactions in more than fifty fiat currencies. In addition, Alchemy Pay offers global settlement methods commonly utilized by general consumers on a daily basis, alongside regional mobile wallets and local bank transfers chosen by users in specific geographic areas.
Recently, Alchemy Pay collaborated with cryptocurrency exchange Bitget to integrate the Polish local payment provider BLIK into the Bitget platform via Alchemy Pay. This integration enables users to conduct seamless and secure crypto-to-crypto deposits using the Polish legal currency Zloty (PLN).
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