Airlines face headwinds due to fraud
Some of the most rapid increases in ecommerce fraud have been reported by the airline industry. Why? Airline tickets are prime targets for fraudsters using stolen payment card data, often obtained through online data breaches. Because of this, the airline industry faces huge losses and innocent customers are forced to deal with the frustration of compromised cards.easyJet takes fraud very seriously and runs a sophisticated fraud prevention strategy that includes the Accertify Interceptas Platform (now integrated with Ethoca Alerts). easyJet’s goal: to prevent fraud in the first place, and where fraud does occur, to minimize losses and ensure fraudsters are kept off their planes. The difficulty: lack of card issuer contacts outside of the UK and France. The solution: contacting Ethoca.
More issuers means more stopped fraud
Ecommerce is a global phenomenon. This means customers can come from anywhere, but so can fraud. Ethoca has the largest global card issuer network in the industry – and it is growing every day. easyJet is now able to share intelligence with issuers around the world in near real-time and keep fraudsters grounded. As new issuers join, easyJet receives more alerts, which translates to even more stopped fraud. During peak travel periods, cancelling a fraudulent ticket and reselling it closer to the date is a huge win for them. With Ethoca, these wins happen with increasing frequency.
Set-up is a breeze
easyJet wanted a solution that requires minimal IT work and would be up and running quickly and easily. With Ethoca Alerts, the set up was extremely simple and required no arduous implementation – a big plus for them.
Integration with The Accertify Interceptas Platform
Ethoca’s early notification of confirmed fraud, coupled with Accertify’s automation, Link Search and Negative Table features, allow easyJet to eliminate more fraud and chargebacks.
In addition to more fraud fighting power comes increased efficiency through automation. Accertify attempts to match the order to the Ethoca alert automatically and outcomes for orders that don’t need to be worked (i.e. ‘previously cancelled’, ‘rejected’ and ‘not found’) are automatically submitted to Ethoca by the Accertify system. The end result? A reduction of manual effort, greater efficiency and more unhappy fraudsters.
But don’t take our word for it, see what easyJet had to say:
How has Ethoca alerts helped to block future fraud?
“Every time we flag a booking as fraud, the details are added to our negative tables automatically. This ensures future suspicious bookings score higher and are subjected to manual review. Now when new bookings are linked to confirmed fraud, we are able to cancel them and stop the fraudster from boarding.”
How is Ethoca alerts enabling you to provide a better customer experience?
“It enables us to avoid the painful chargeback process and get customers their money back quickly and easily – saving them a great deal of inconvenience. What’s more, by identifying those committing fraud today, we reduce the risk of future customers falling victim to fraud.”
How has Ethoca alerts improved your fraud rules and models?
“All fraud data from Ethoca is incorporated into our rules models – refreshing them and improving their self-learning profiles. Receiving confirmed fraud data quickly and regularly helps to greatly improve the effectiveness of these models – meaning less fraud.”
Basically, if you are an airline, these are your benefits:
Lower fraud losses (recovery of goods and services)
Reduce fraud levels through link analysis
Reduce future fraud through improved fraud screening (adding data to negative lists)
Reduce dispute resolution processing expenses
Because alerts are confirmed fraud, accuracy is ensured
Issuing more refunds promotes higher issuer acceptance and improves the customer experience.
To find out more about how merchant-issuer collaboration can help you fight fraud, eliminate chargebacks and improve customer experience, connect with one of our experts today.
About Keith Briscoe
Keith Briscoe leads Ethoca’s global product and marketing functions, a role spanning the development of Ethoca’s suite of collaboration-based fraud/chargeback mitigation and transaction acceptance solutions, as well as integrated marketing programs. His mandate includes product strategy and management, new product innovation, competitive analysis, experiential marketing, integrated marketing campaigns, public relations, analyst relations, content strategy and stakeholder communications.
About Ethoca
Ethoca is the leading provider of collaboration-based technology, leveraging a growing, global network of hundreds of card issuers and thousands of ecommerce merchants. Their innovative solutions enable both issuers and merchants to increase card acceptance, stop fraud, recover lost revenue and eliminate chargebacks from fraud and customer service disputes.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now