As per the agreement, ONYX will leverage CyberSource’s global payment gateway services to process online payments for various card types from multiple issuers. ONYX will also use CyberSource’s fraud management tool, Decision Manager.
This will allow ONYX to pinpoint fraud with less manual intervention. This is achieved by screening inbound orders against data and correlations from more than 60 billion transactions processed by Visa and CyberSource annually. The transaction data is supplemented by 260 validation and correlation tests.
Southeast Asias online travel booking sector is expected to form 14% of the total Asia Pacific online travel market in 2015, an increase from 12%, or USD 9.3 billion, in 2012. Increased internet access through smartphones and tablets, as well as improvements in telecom infrastructure has resulted in the growth of online travel bookings, as more travelers step away from traditional booking methods and purchase travel bookings online due to its convenience.
CyberSource, a wholly-owned subsidiary of Visa, is a payment management company. Over 400,000 businesses worldwide use CyberSource and Authorize.Net brand solutions to process online payments and streamline fraud management.
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