ACI Worldwide and BigDataCorp Deliver Safer Access to eCommerce in Brazil Through Increased Fraud Detection Accuracy

Rhea-AI Summary

ACI Worldwide (NASDAQ: ACIW) has partnered with BigDataCorp to introduce a CPF identity verification service for eCommerce merchants in Brazil. This service enables merchants to validate customer identities, ensuring only legitimate orders are approved, which aims to reduce fraud and chargebacks. The CPF number is essential for transactions as it verifies customer authenticity. With mobile commerce projected to reach $20 billion in 2023, this partnership is crucial for enhancing security in the growing Brazilian eCommerce market.

Positive

• Partnership with BigDataCorp enhances fraud detection for eCommerce merchants in Brazil.
• Introduction of CPF verification increases order legitimacy and reduces chargebacks.
• Service integration improves operational efficiency by reducing manual reviews.

Negative

• None.

ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time digital payment software and solutions, today announced that it has partnered with BigDataCorp, a leading Latin American data specialist, to provide eCommerce merchants operating in Brazil with a CPF (Cadastro de Pessoas Físicas or Natural Persons Register) identity verification service, which adds an extra layer of validation for genuine customers. With this service, merchants in Brazil can ensure only legitimate orders are approved.

The CPF number, assigned to individuals by the Brazilian revenue agency, is a taxpayer registry identification number, which merchants can use to validate a purchase by checking if a customer is in good standing. With the ACI Secure eCommerce and BigDataCorp solutions, merchants can send and cross-reference specific CPF data for validation, allowing them to safely transact with Brazilian customers and easily detect any fraudulent activity. The BigDataCorp solution works seamlessly with ACI Secure eCommerce to increase fraud detection accuracy without the need for technical integration.

“Fraud is prevalent in Brazil and chargebacks are commonplace. In addition, poor transactional data quality and availability can make fraud detection a challenge. The CPF card is essential to enabling a successful checkout experience,” said Thoran Rodrigues, CEO, BigDataCorp. “The addition of the CPF card validation in an order provides merchants with a higher level of confidence around the authenticity of a purchase and helps them contain costs by reducing fraud and chargebacks. Our partnership with ACI is important for merchants looking to expand their business in Brazil.”

With the ACI and BigDataCorp partnership, required data is submitted to the third party on behalf of merchants. A real-time callout, data and communication exchange improves fraud detection accuracy and delivers enhanced control of the fraud and customer management processes. Merchants can increase operational efficiencies by reducing manual review volumes, which results in not only cost savings, but also market growth.

“While Brazil has seen a significant boost in eCommerce over the last year, fraud has also run rampant. With mobile commerce expected to reach $20 billion by 2023, merchants and their customers need extra protection,” said Debbie Guerra, executive vice president, ACI Worldwide. “By partnering with BigDataCorp, we are enabling our customers and prospects to safely do business in a key emerging market, with an increasingly mobile-first population.”

About ACI Worldwide

ACI Worldwide is a global software company that provides mission-critical real-time payment solutions to corporations. Customers use our proven, scalable and secure solutions to process and manage digital payments, enable omni-commerce payments, present and process bill payments, and manage fraud and risk. We combine our global footprint with local presence to drive the real-time digital transformation of payments and commerce.

© Copyright ACI Worldwide, Inc. 2021
ACI, ACI Worldwide, ACI Payments, Inc., ACI Pay, Speedpay and all ACI product/solution names are trademarks or registered trademarks of ACI Worldwide, Inc., or one of its subsidiaries, in the United States, other countries or both. Other parties’ trademarks referenced are the property of their respective owners.

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FAQ

What is ACI Worldwide's new partnership about?

ACI Worldwide has partnered with BigDataCorp to offer a CPF identity verification service for eCommerce in Brazil.

How does the CPF identity verification service benefit Brazilian merchants?

It allows merchants to validate customer identities, reducing fraud and chargebacks.

What is the significance of the CPF number in transactions?

The CPF number helps merchants ensure the authenticity of customer purchases.

What market trends are influencing ACI Worldwide's partnership?

The growth of mobile commerce in Brazil, expected to reach $20 billion by 2023, necessitates enhanced security measures.

What impact does the partnership have on eCommerce security?

It increases fraud detection accuracy, thus improving the overall security for online transactions.