#Japan #Tokyo #NTT DATA #Cacco #EMV 3DS

Cacco and NTT Data Collaborate for Enhanced Fraud Prevention

In an effort to enhance credit card fraud prevention, Cacco Inc., a leading provider of fraud detection services in Japan, has announced a partnership with NTT Data, one of the largest cashless payment platforms in the country. Both companies aim to leverage EMV 3-D Secure (EMV 3DS) technologies to bolster their fraud detection capabilities, ensuring safer online transactions for consumers and businesses alike.

Cacco, headquartered in Minato, Tokyo, has established itself as a frontrunner in providing robust fraud detection solutions, with a record of serving over 120,000 e-commerce sites. Meanwhile, NTT Data, located in Koto, Tokyo, has been pivotal in supporting numerous major credit card companies with its Access Control Server (ACS), a crucial component for user authentication in card transactions.

A Necessary Step Towards Security

With the expansion of the e-commerce market, instances of credit card fraud have increasingly threatened consumers and businesses alike. Recognizing this issue, Cacco and NTT Data have joined forces to enhance the precision of fraud detection and prevention strategies. Their partnership is particularly timely as the introduction of EMV 3DS becomes mandatory for all e-commerce operators in Japan by March 2025, with 62% of businesses already having adopted the necessary measures.

The collaboration aims to integrate Cacco’s advanced fraud detection service, O-PLUX, with NTT Data’s ACS capabilities. This synergy promises to yield heightened risk detection accuracy, improving the overall protection against fraudulent activities in the e-commerce sector. Cacco has previously partnered with other ACS vendors, but this new alliance with NTT Data represents a significant advancement in their ongoing efforts to combat fraud.

Understanding EMV 3-D Secure

EMV 3DS serves as an international standard for authenticating cardholders during online transactions. The process involves collaboration between merchants, payment networks, and card issuers. Merchants initiate the authentication request before payment, facilitating communication with cardholders to ensure verification. Central to this initiative is the ACS, which securely processes the authentication, employing methods like one-time passwords and biometric verification to bolster transaction safety.

Cacco's role in this partnership will enhance the efficacy of the ACS, ultimately introducing a new payment experience that balances convenience and safety.

Executive Comments

“Partnering with NTT Data fosters a deeper enhancement of our collaboration with various ACS vendors,” stated Hiroyuki Iwai, CEO of Cacco. “Combining NTT Data’s extensive authentication infrastructure with our fraud detection technologies will significantly improve the accuracy of risk detection in credit card transactions. We aim to enhance user confidence and merchant trust in online transactions through this collaboration.”

Iwai expressed optimism for the partnership's potential to drive innovation and quality improvement in fraud prevention across the payment industry, contributing to sustainable market growth and value enhancement for businesses.

About Cacco Inc.

Cacco operates under the vision of becoming a game changer for the future, focusing on developing algorithms and software that support corporate problem-solving and challenges through security, payment, and data science technologies. The company's core offerings include a fraud detection service, O-PLUX, known for its extensive market experience, as well as various other security services designed to protect against unauthorized access and data breaches in diverse sectors, including finance and e-commerce.

For more information on their fraud detection services, check out Cacco's official site.

This strategic initiative represents a critical advancement in protecting businesses and consumers against fraud in an evolving digital landscape.