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.
John Tan, CEO of Alchemy Pay: "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."
Forter's Joseph Lee, Vice President Asia Pacific, "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."