(tell me im wrong) High risk payment solution

[ars333]

Tell me why this would not work.

I was using Alchemy Pay:s on-ramp the last weeks for customers, it was KYC-free for a couple hundred $, but it seems that the user experience of users seeing "crypto" and exchanging FIAT -> Crypto scares them as conversions have plummeted.

Anyway, here's my idea, and please do tell me if you see any problems with the TECHNICALITY of this solution, not here for moral guidance.

I found an on-ramp, they have no KYC until $1000, I am avoiding saying their name as to not get their attention. The site demands only a phone number and verification SMS until the $1000 spend limit is reached, they also store CC information and only require the CVV code to complete a purchase, therefore all customer data is stored on their end safely, never with our platform.

Technically, if I have my own site with a good UI where we store ONLY the users phone number so they instantly get a SMS where they enter the 4 digit code, and the CVV we could use a user-bot to fill out the missing details on said payment on-ramp.

I am trying to figure out what systems could be in place to prevent this,
My hope is that this will improve the user experience, increase conversions for both sellers and for the on-ramp, everyone should be happy.... right?

 

[BlitzySpecial]

If this really works count me in!

 

[Venusaur]

It won't work because of several factors. I will mention some below:

1) Device fingerprint mismatch
2) IP mismatch
3) PCI compliance red flags
4) 3DS risk scoring inconsistency
5) Automation detection
6) Behavioral biometrics mismatch

Even if you perfectly spoof fingerprints, the combination of:
- phone verified on device A
- card previously used on device A
- payment initiated by bot on device B

= instant fraud flag.

Conclusion: the payment will be automatically rejected

 

[Stabile_Feldmaus]

Your technical solution is a major fraud flag. Automating form-fills with a bot violates the on-ramp's terms and will trigger an instant ban, losing you the payment channel.

For a stable, high-risk solution, consider UniqPayments. It offers a seamless, embedded UI that doesn't scare users with "crypto" branding, handles KYC/AML internally, and provides dedicated merchant support to prevent the exact issues you're facing with Alchemy Pay.

 

[mamigetmoney]

Tell me why this would not work.

I was using Alchemy Pay:s on-ramp the last weeks for customers, it was KYC-free for a couple hundred $, but it seems that the user experience of users seeing "crypto" and exchanging FIAT -> Crypto scares them as conversions have plummeted.

Anyway, here's my idea, and please do tell me if you see any problems with the TECHNICALITY of this solution, not here for moral guidance.

I found an on-ramp, they have no KYC until $1000, I am avoiding saying their name as to not get their attention. The site demands only a phone number and verification SMS until the $1000 spend limit is reached, they also store CC information and only require the CVV code to complete a purchase, therefore all customer data is stored on their end safely, never with our platform.

Technically, if I have my own site with a good UI where we store ONLY the users phone number so they instantly get a SMS where they enter the 4 digit code, and the CVV we could use a user-bot to fill out the missing details on said payment on-ramp.

I am trying to figure out what systems could be in place to prevent this,
My hope is that this will improve the user experience, increase conversions for both sellers and for the on-ramp, everyone should be happy.... right?

Seems this could be a major privacy violation and against the onramp TOS. If a user has already entered their payment method before for that information to save, why would they have a problem confirming it again after the first transaction? Also think I know the gateway as I'm using it myself and notice it has no KYC and pretty smooth experience other than the warning which can be explained.

 

[xXGODXx]

Try revolut they are good as a payment method