Riskified, IATA sign strategic partnership

Via this partnership, IATA will integrate and offer Riskified’s Chargeback Guarantee to IATA member airlines that use the IATA Financial Gateway (IFG), Travel Daily News reports. In addition, member airlines will be able to activate Riskified’s best-in-class fraud solution throughout all of their distribution channels from ecommerce to agency sales including NDC. As Riskified enables airlines to approve ticket orders they may otherwise have declined for fear of fraud, airlines thus can maximise their online revenue with Riskified. This can be done without requiring any additional investment in development resources. 

Riskified’s platform allows airlines to approve legitimate customers and avoid the costs of fraud. The company analyses ticket transactions and compares them to billions of prior online transactions. The Riskified Chargeback Guarantee provides airlines with a decision to ‘approve’ or ‘decline’ each order. At the same time, airlines receive payment from Riskified for all approved orders even if they later turn out to be fraudulent.