Outpayce and Etraveli Group partner to help reduce fraud with a new solution
Outpayce from Amadeus and Etraveli Group have joined forces in a new partnership to tackle fraud in the travel industry.
Through this new partnership, airlines and other travel stakeholders using Outpayce’s Xchange Payment Platform, can now benefit from Precision’s industry-leading risk management solution through a single connection. Building on its world-leading fintech capabilities and over 20 years of experience, Etraveli Group developed Precision which has been used across its own online travel agency brands. This advanced technology already successfully screens multibillion-dollar transactions in more than 200 countries. Now, Etraveli Group is making Precision available to the wider travel industry, offering its innovative technology and expertise to travel sellers and airlines.
Fraud is a growing challenge for airlines withRSA Security and Juniper Research finding that 46% of all fraudulent transactions occur in the airline industry and half of travel payments leaders identified fraud as their biggest challenge in Amadeus’ latestTravel Technology Investment Trends research.
Precision screens transactions made with multiple different payment methods in real-time so that travel companies can more accurately identify fraud. Using multiple technologies, the solution delivers a direct decision to either approve or decline a transaction or apply targeted 3D Authentication, delivering a smooth payment experience for travelers by minimizing unnecessary authentication steps.
“Precision has been instrumental in Etraveli Group’s growth. Born from travel, it has been pivotal for global expansion by addressing industry challenges under a 360 view. Precision is a robust solution including AI technology that is provenly managing decisions in a way that maximizes payment acceptance while minimizing fraud costs. In alignment with our strategy to expand our B2B technology offerings, we’re excited to offer this service to the wider travel industry through Outpayce’s payments orchestration platform.”
Peny Rizou Chief Fintech Officer, Etraveli Group
“Our payments platform is all about helping travel companies access the best fintech services to take intelligent decisions about how each payment is handled. Precision is designed specifically for travel and by identifying fraudulent transactions more precisely it can help travel companies reduce the cost of fraud and accept more payments with confidence.”
Damian Alonso SVP Commercial and Partnerships, Outpayce
Earlier this year, Etraveli Group and Outpayce’s parent company Amadeus, agreed on a strategic initiative that allows the two companies to access each other's travel content. Amadeus will source and distribute selected content from Etraveli Group, including virtual interline options from Etraveli Group’s subsidiary TripStack, to its network of travel sellers. Under the terms of the agreement, Amadeus will become Etraveli Group’s primary source for New Distribution Capability (NDC) content.
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