Travelport, (NYSE:TVPT), the leading Travel Commerce Platform, today announced it has partnered with ACI Worldwide (NASDAQ: ACIW), a leading provider of electronic banking and payment solutions, to deliver an intelligent fraud control and settlement solution for its airline customers called Travelport Authorize Plus.
The airline industry is a target for cybercriminals globally. According to the International Air Transport Association (IATA), the industry incurs losses of $1 billion[i] per year from fraudsters using stolen, compromised or fake credit card details to buy airline tickets. With the travel industry suffering from high levels of fraud, the impact on the bottom line can be severe.
Travelport Authorize Plus enhances Travelport’s existing Card Payment Gateway by integrating with ACI’s award-winning ReD Shield platform. Part of the UP Payments Risk Management solution, ReD Shield delivers real-time, cloud-based multi-tiered fraud prevention for eCommerce merchants of the UP Payments Risk Management solution. Through the integration, Travelport can provide its airline customers with the ability to seamlessly track ticketing purchase processes right through to the completion of a journey. Additional features include the dynamic fraud screening of card payments used to purchase air tickets via Travelport-connected agents, the ability to flag and prevent ticket issuance, and detailed online management reports of all transactions and status.
ACI’s UP Payments Risk Management solution utilizes advanced data analytics, adaptive machine learning and customer profiling techniques. This is backed by a unique combination of patented predictive models and unrivalled global fraud intelligence, supported by a team of expert risk analysts.
Derek Sharp, Senior Vice President and Managing Director of Air Commerce, Travelport, commented: “Our partnership with ACI Worldwide is in response to the growing need to provide our airline customers with highly sophisticated tools to prevent card fraud in our industry. The major advantage of combining Travelport Authorize Plus with ACI ReD Shield is that we have built a fully integrated solution, which applies fraud control management without the need for both our airline and agent customers to do any major development or change their workflow process of today.”
Andy McDonald, Vice President, ACI Worldwide, added: “We are excited to provide Travelport with the cutting-edge payments fraud management capabilities that make Travelport Authorize Plus a leading fraud tool for the airline industry. When it comes to fraud control, authorization, and capture and settlement, the combination of our joint capabilities has the potential to dramatically change the way air ticket transactions are processed today.”