Payment solutions provider Alchemy Pay has partnered with Mastercard to enhance user verification and fraud prevention in its platform.
Alchemy Pay’s network supports more than 50 fiat currencies across 173 countries and has obtained several payment licences globally, including a recent one in the UK.
Using Mastercard’s identity solutions, Alchemy Pay aims to streamline registration 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 Mastercard’s account opening API enhances the security identification and risk control features across Alchemy Pay’s product offerings, including On & Off-ramp solutions, NFT Checkout, and its Crypto Card Solution.
Alchemy Pay also 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 through Alchemy Pay.
Chiliz collaborates with sports brands such as FC Barcelona, Paris Saint-Germain, and Manchester City. CHZ, the native digital token of the Chiliz sports and entertainment ecosystem, powers platforms like Socios.com and the Chiliz Chain.
The collaboration marks the growth of integrating fiat and crypto payment solutions to support the evolving needs in the sports and entertainment sector, which offers fans a way to engage with their favourite teams and clubs.
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