FinMont partners with PRECISION to mitigate fraud in travel payments

As part of their collaboration, FinMont and PRECISION intend to address the complexities faced by airline companies when it comes to payment fraud. PRECISION is set to integrate its fraud prevention technology into FinMont’s platform and develop a payment ecosystem that focuses on mitigating the challenges of travel payments.

The partnership between FinMont and PRECISION comes a few months after the former entered several alliances with airlines to further support their operations. For example, back in November 2024, FinMont teamed up with Lufthansa to improve and optimise B2B payments leveraging the Camino Network in non-BSP markets. The move allowed the integration of Camino Network’s blockchain solution, purposefully designed for the travel industry, to document all transactions, with the solution assisting the payment process within the FinMont payment ecosystem. During the same period, Bhutan Airlines teamed up with FinMont to provide a secure payment gateway that included different payment methods.

Safeguarding airlines against fraud

FinMont and PRECISION’s collaboration underlines both companies’ commitment to advancement in the global travel industry. By including PRECISION’s fraud prevention technology and a holistic approach, which minimises fraud costs and scales sales, FinMont is set to deliver its global network of travel merchants a more safe, efficient, and customer-friendly payment ecosystem. Commenting on the news, representatives from FinMont mentioned that the partnership assists their company’s mission to optimise payment processes for the travel industry. By joining forces, the two organisations plan to enable travel merchants to overcome the complexities usually associated with traditional payment systems, ensuring they are competitive in the market and efficient in their operations.

Furthermore, PRECISION, which centres its efforts on reducing fraud in the financial sector, orchestrates proprietary technology and flexible integrations to enable travel businesses to expand in an ever-evolving environment. The company was created from Etraveli Group’s expertise in travel and technology. Officials from the group underscored that partnering with FinMont allows their company to offer its fraud prevention solution to more travel merchants globally. Additionally, the initiative reflects a shared commitment to advancing payment security for travel businesses while ensuring a reliable and optimal payment experience.