Cyota selected by Japan’s UC Card for Verified by Visa

UC Card, a member of Mizuho financial group, is one of the largest credit card issuers in Japan.

5 August 03 12:14, Globes correspondent

Payment security company Cyota has been selected by Japan’s UC Card to provide an end-to-end Verified by Visa (3D Secure) Internet payment security service. The service will be available to UC cardholders and merchants.

UC Card, a member of Mizuho financial group, is one of the largest credit card issuers in Japan. With over 12 million cards, it is considered one of the top three card issuers by charge volume and number of cards. UC plans to integrate the authentication service with its existing online services, so cardholders will enjoy “single sign on” meaning cardholders will use the same user name and password for both Verified by Visa and the bank’s online services.

Mizuho is the largest banking group in the world, with $1,135 billion in assets for 2002.

The service is hosted in Tokyo and is provided through Intelligent Wave Inc. (IWI), Cyota’s partner in Japan. IWI will also provide a 3D Secure merchant service to UC. Triangle Technologies Ltd., which has helped form numerous strategic alliances in Japan for its clients, assisted Cyota in signing the distribution agreement with IWI and played a major role in negotiating the agreement with UC Card.

“The Japanese market is a key market to focus on, with online spending steadily growing in Japan over the past few years,” said Dr. Daniel Isenberg, CEO of Triangle Technologies.

Published by Globes [online] - www.globes.co.il - on 05 August 2003