JAPAN - Safewww Inc., a provider of identity protection and authentication solutions for business and personal Internet transactions, has entered into a distribution agreement with Japan-based IXI Co. Ltd. in a bid to capture the lucrative Japanese market.
Under the terms of the agreement, IXI, along with Kotobuki Seihan Printing Co. Ltd., will set up SafeREX Co. Ltd., a local company that will handle marketing, sales and support of Safewww's suite of products and services.
"There is a critical need for identity protection solutions in Japan," said Takeshi Washitani, president of SafeREX Co. "With the growth of online banking, and many consumers performing financial transactions online, it is important that we bring easy-to-use solutions such as Safewww's authentication product to our customers that are seeking to protect themselves and their customers from fraud."
The sales and marketing efforts in Japan will focus on target markets similar to those in the U.S. and Europe, including online banking, e-payments, and any other e-businesses that allow consumers to make financial transactions online.
"The creation of SafeREX is an important piece of our global strategy, which includes forming local partnerships with established, well-recognized companies such as IXI," said Kenneth Bob, CEO of Safewww Inc. "In addition, venturing into Japan puts us in a great position to tap into the pioneers of mobile commerce and expand our product line into this booming area."
The first product to be made available is Safewww's IDshield Online Banking and E-Payment Authentication System, a software-based authentication solution aimed at protecting both businesses and their customers against fraud.
Through SafeREX, IXI will be providing all local technical support for the product.