Arcot is on the front lines of global transaction security, exploring EMV 3-D Secure from every angle – from CNP fraud to frictionless commerce via Risk-Based Authentication (RBA). We move beyond manual rulesets to a new era of Machine Learning, using the Arcot Smart Ruleset to automate risk decisions across PSD2, SCA, and global compliance. From the rise of Data-Only (RCI-06) flows in the U.S. to the end of the merchant-issuer “blame game,” we examine how innovations in AI-driven data exchange turn authentication into a revenue engine, driving higher approval rates, optimization, and growth.