Fintech
Mastercard integration aims to improve security for Alchemy Pay users
Payment Solution Provider Alchemy Pays collaborated with MasterCard to improve user verification and fraud prevention on its platform.
Alchemy Pay’s network supports over 50 fiat currencies in 173 countries and has been granted multiple payment licenses globally, including a recent one in the UK.
Using Mastercard’s identity solutions, Alchemy Pay aims to simplify onboarding and improve risk control measures across its various services.
This collaboration helps Alchemy Pay, founded in Singapore in 2017, identify users based on risk levels and strengthen security against identity fraud.
The integration of MasterCardThe Account Opening API enhances security identification and risk control capabilities across Alchemy Pay’s product offering, including its On & Off-ramp solutions, NFT Checkout, and its Crypto Card solution.
Alchemy Pay has recently expanded its support to Chiliz Chain, a blockchain provider for sports and entertainment. Users can now purchase Chiliz’s native token, CHZ, and 13 Fan Tokens within the Chiliz ecosystem via Alchemy Pay.
Chiliz collaborates with sports brands such as FC Barcelona, Paris Saint-Germain, AND City of Manchester. CHZ, the native digital token of the Chiliz sports and entertainment ecosystem, powers platforms like Socios.com and the Chiliz chain.
The partnership marks the growth of the integration of fiat and cryptocurrency payment solutions to support the evolving needs of the sports and entertainment industry, offering fans a way to engage with their favorite teams and clubs.