#Japan #Tokyo #Cacco #O-PLUX #4℃ Jewelry

Introduction

Recently, the renowned jewelry brand 4℃ has adopted Cacco's fraud detection service, O-PLUX, to enhance its online sales security. With previous fraudulent activities affecting customer transaction experiences, the integration of this service has enabled a significant increase in credit card approval rates and has entirely eradicated instances of fraud. In this article, we will delve into the reasons behind this innovative partnership and its resultant benefits.

Background of Implementation

Handling high-value items like jewelry brings about elevated risks for online retailers. The official online shop of 4℃ Jewelry has faced challenges with fraudulent orders, with an unsettling frequency of five to six such cases per month over the past couple of years. Although 3D Secure technology was initially employed to mitigate financial losses, customers often found their payment transactions denied based on the decisions of card companies. This led to increased inquiries regarding transaction failures, thus impacting overall customer satisfaction. To tackle these issues effectively, integrating O-PLUX was seen as a necessary step to enhance fraud mitigation measures and improve transaction approval rates.

Key Drivers Behind the Adoption and Its Outcomes

1. Tailored Logic and Unique Data Aligned with Japanese Business Practices

O-PLUX provides robust logic suitable for Japanese commercial habits, catering to unique address formats and name conventions. The inclusion of additional external data, such as information on vacant properties, further enriches the decision-making process. The ability to visualize judgment criteria allows for adjustments that fit the specific operational needs of 4℃.

2. Zero Instances of Fraudulent Orders

After integrating O-PLUX, the jewelry brand observed an impressive drop in fraudulent activity from previous monthly averages to zero. This was particularly impactful given the high value of their products, effectively eliminating the risks of uncovering fraudulent tactics. Furthermore, the number of customer service inquiries related to these issues significantly declined, contributing to an enhanced customer experience.

3. Improved Transaction Approval Rates by 10%

With O-PLUX accurately filtering out fraudulent transactions, 4℃ experienced a 10% increase in credit card approval rates that had previously been declining with specific card companies. This not only reduced potential loss from missed sales opportunities but also elevated the brand's conversion rates, ensuring customers face fewer obstacles during their purchasing processes.

Insight from the Company

Nishikawa from the Digital Marketing Department at 4℃ expressed that the deployment of O-PLUX has established a more robust system for fraud prevention. The flexibility to consider the application range of 3D Secure has improved remarkably, and future plans include streamlining the authentication process for repeat customers or lower-risk transactions, aiming to further enhance the purchasing experience for their clientele. They prioritize creating a reliable environment for customers to make purchases with peace of mind, balancing safety and convenience.

Understanding O-PLUX

The O-PLUX service, provided by Cacco, boasts capabilities for real-time detection of unauthorized login attempts and fraudulent orders. By employing a combination of real-time data analytics, such as IP address mapping and device authenticity assessment, O-PLUX enables retailers to protect against identity theft, credit card misuse, and harmful resale activities. The cutting-edge technology behind this service not only safeguards personal information but automates audit processes as well.

Features of O-PLUX

1. Leading Market Presence: O-PLUX is the top choice among various e-commerce sites, recognized for its extensive implementation record.
2. High Accuracy: It delivers high detection accuracy through diversified shared negative data and patented deduplication techniques coupled with localized screening logic.
3. Rapid Response Capacity: Its dedicated consultants, combined with AI technology, enable quick adaptability to emerging fraudulent techniques.
4. Streamlined Implementation: O-PLUX integrates seamlessly with numerous e-commerce systems, simplifying the setup process.
5. Affordability: Starting at a monthly fee of 30,000 yen, O-PLUX offers cost-effective solutions, allowing businesses to trial and validate effectiveness before full-scale adoption.

About Cacco Inc.

Cacco’s core mission is centered around assisting businesses in overcoming challenges with innovative security, payment, and data science technologies. Focused on fraud detection in online transactions, Cacco stands at the forefront of protective measures against unauthorized access and data leaks. Through state-of-the-art services, they empower companies across various sectors, including retail and manufacturing, leading to improved operational efficiencies and cost reductions.

In summary, the collaboration between 4℃ and Cacco through O-PLUX exemplifies a strategic move towards enhanced fraud prevention while concurrently improving the customer experience. As online retail challenges evolve, such partnerships will be crucial in ensuring secure and seamless transactions.