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We are receiving below errors in a Magento 1 store while using Authorize.net payment method on checkout

At Frontend:

Soap request error due to invalid configuration

At Backend:

Soap-Error: Parsing WSDL: https://api.authorize.net/xml/v1/schema/AnetApiSchema.xsd

Nothing has been changed recently in terms of code or configuration. Anyone have any idea about this?

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