COMPANY NEWS: The fiat-crypto payment provider, Alchemy Pay, has partnered with Forter, the Trust Platform for digital commerce. The partnership will integrate Forter’s solutions and add an invaluable layer of security to Alchemy Pay transactions. Forter will enable Alchemy Pay to offer higher payment approval rates and chargeback guarantees that benefits both clients and users.
Alchemy Pay’s fiat payment channels and forthcoming crypto on-ramps allow users to buy crypto and access Web3 services via mainstream-friendly fiat payment methods such as cards, mobile wallets and bank transfer. It also enables client partners and merchants to accept crypto for real-world goods and services. Forter’s service leverages AI technology to minimise errors and bank false declines to improve the user experience. Its AI systems detect fraud before payments are initiated, reducing authentication failure and optimising payments.
Because crypto is still viewed as high risk by traditional financial institutions, chargebacks and failed transactions have been a significant issue. Alchemy Pay provides a payment bridge between fiat and crypto economies that makes these payments as smooth as possible. The addition of Forter’s services will help Alchemy Pay to protect legitimate consumers against loss of funds by identifying and blocking fraudulent transactions.
“Forter is the industry leader in terms of secure payment approvals and we are delighted to be able to pass these on to our client partners. We are intent on providing the optimal performance for our solutions and Forter will help us do just that. In order for crypto to break into mainstream use and gain worldwide adoption from everyday people we have to make payments between fiat and crypto as seamless as possible,” says Alchemy Pay CEO John Tan.
“We are excited to partner with Alchemy in their quest to provide a safe and secure checkout experience. As the Trust Platform for digital commerce, Forter understands the crypto customer journey and provides accurate, instant assessments of trustworthiness across every step of the buying journey. Alchemy is at the forefront of the crypto payment sector and we look forward to a continued partnership with them as crypto adoption accelerates,” says Forter vice president Asia Pacific Joseph Lee.
About Alchemy Pay
Founded in Singapore in 2018, Alchemy Pay (ACH) is a payment solutions provider that seamlessly connects fiat and crypto economies for global consumers, merchants, developers, and institutions. It provides online and offline merchants with convenient acceptance of both fiat and crypto, enables easy onboarding to blockchain ecosystems, and makes web3 services highly accessible. Today, Alchemy Pay is supported in over 70 countries with 300 payment channels, has touchpoints with more than two million merchants through partnerships with industry leaders such as Binance, Shopify, NIUM, and QFPay. Alchemy Pay’s token, ACH, is an ERC20 native to the Ethereum blockchain.
Forter is the Trust Platform for digital commerce. We make accurate, instant assessments of trustworthiness across every step of the buying journey. Our ability to isolate fraud and protect consumers is why Nordstrom, Sephora, Instacart, Adobe, Priceline and leaders across industries have trusted us to process more than US$500 billion in transactions. Our deep understanding of identity and use of automation helps businesses prevent fraud, maximise revenue and deliver superior experiences for their consumers.
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