Mastercard and DTS Corporation have forged a partnership to bring new cybersecurity and digital fraud detection solutions to the Japanese market.
The collaboration will see Mastercard’s suite of cybersecurity solutions integrated into DTS Corporation’s systems, processes and consulting services ranging from product introduction and training to development for wider audiences in the public and private sectors.
Mastercard and DTS Corporation will offer an integrated cyber security solution through making two new Mastercard capabilities available to the Japanese market from August.
“Mastercard is excited to have the opportunity to work together with DTS to provide cybersecurity solutions, to create a more secure and reliable user experience and to develop new business opportunities that will further advance digital payments in Japan,” Ken Uchiyama, Country Manager, Japan at Mastercard, said.
“We will utilise our global standard payment technology, cyber solutions, consulting services using payment data, and other expertise that we have cultivated over the years, and through partnerships with governments, municipalities, financial institutions, and various companies, we hope to provide a safe, secure, and convenient payment environment for everyone, everywhere.”
The announcement follows a recent report from Juniper Research which found the total cost of ecommerce fraud for global merchants has risen by US$7 billion in the past year and is on track to exceed US$48 billion by the end of 2023. It also said the Asia Pacific region accounted for 22 per cent of global fraud.
DTS Corporation is also involved in the implementation of CipherTrace, Mastercard’s cryptocurrency and blockchain analysis tool that helps banks, governments, crypto exchanges, wallet providers, crypto ATMs and other Virtual Asset Service Providers (VASPs) to remain compliant with global regulations and track the risk of cryptocurrency transactions.
“DTS is pleased to be the first partner of Mastercard’s cyber security solutions in Japan,” Tomoaki Kitamura, President and Representative Director at DTS Corporation, said.
“We provide variety of services to customers as comprehensive system integrator in wide range of industries and businesses, including financial, manufacturing, public sector and telecommunications.
“In the area of cyber security, we are focusing our efforts by integrating our anti-money laundering system, AMLion, with Mastercard’s cryptocurrency blockchain analytics solution, CipherTrace. Through this strategic alliance, we will further strengthen our solutions in cyber security by combining our group’s services with Mastercard’s diverse solutions.
“Our goal is to contribute to our customers by providing safe and secure IT services with enhanced user experience.”