Travelport, (NYSE:TVPT), the leading Travel Commerce Platform, today announced it has partnered with ACI Worldwide (NASDAQ: ACIW), a leading provider of electronic banking and payment solutions, to deliver an intelligent fraud control and settlement solution for its airline customers called Travelport Authorize Plus.
The airline industry is a target for cyber criminals globally. According to the International Air Transport Association (IATA), the industry incurs losses of $1 billion[i] per year from fraudsters using stolen, compromised or fake credit card details to buy airline tickets. With the travel industry suffering from high levels of fraud, the impact on the bottom line can be severe.
Travelport Authorize Plus enhances Travelport’s existing Card Payment Gateway by integrating with ACI’s award-winning ReD Shield platform. Part of the UP Payments Risk Management solution, ReD Shield delivers real-time, cloud-based multi-tiered fraud prevention for eCommerce merchants of the UP Payments Risk Management solution. Through the integration, Travelport can provide its airline customers with the ability to seamlessly track ticketing purchase processes right through to the completion of a journey. Additional features include the dynamic fraud screening of card payments used to purchase air tickets via Travelport-connected agents, the ability to flag and prevent ticket issuance, and detailed online management reports of all transactions and status.
ACI’s UP Payments Risk Management solution utilizes advanced data analytics, adaptive machine learning and customer profiling techniques. This is backed by a unique combination of patented predictive models and unrivalled global fraud intelligence, supported by a team of expert risk analysts.
Derek Sharp, Senior Vice President and Managing Director of Air Commerce, Travelport, commented: “Our partnership with ACI Worldwide is in response to the growing need to provide our airline customers with highly sophisticated tools to prevent card fraud in our industry. The major advantage of combining Travelport Authorize Plus with ACI ReD Shield is that we have built a fully integrated solution, which applies fraud control management without the need for both our airline and agent customers to do any major development or change their workflow process of today.”
Andy McDonald, Vice President, ACI Worldwide, added: “We are excited to provide Travelport with the cutting-edge payments fraud management capabilities that make Travelport Authorize Plus a leading fraud tool for the airline industry. When it comes to fraud control, authorization, and capture and settlement, the combination of our joint capabilities has the potential to dramatically change the way air ticket transactions are processed today.”
About ACI Worldwide
ACI Worldwide, the Universal Payments (UP) company, powers electronic payments for more than 5,100 organizations around the world. More than 1,000 of the largest financial institutions and intermediaries, as well as thousands of global merchants, rely on ACI to execute $14 trillion each day in payments and securities. In addition, myriad organizations utilize our electronic bill presentment and payment services. Through our comprehensive suite of software solutions delivered on customers’ premises or through ACI’s private cloud, we provide real-time, immediate payments capabilities and enable the industry’s most complete omni-channel payments experience. To learn more about ACI, please visit www.aciworldwide.com. You can also find us on Twitter @ACI_Worldwide.
Travelport is the technology company which makes the experience of buying and managing travel continually better. It operates a travel commerce platform providing distribution, technology, payment and other solutions for the global travel and tourism industry. The company facilitates travel commerce by connecting the world’s leading travel providers with online and offline travel buyers in a proprietary business-to-business (B2B) travel platform.
Travelport has a leading position in airline merchandising, hotel content and distribution, car rental, mobile commerce and B2B payment solutions. The company also provides IT services to airlines, such as shopping, ticketing, departure control and other solutions. With net revenue of over $2.5 billion in 2018, Travelport is headquartered in Langley, U.K., has over 3,700 employees and is represented in approximately 180 countries and territories.
Henry Jakins (based in the UAE)
Head of Communications, Europe and APACMEA
t +971 50 107 0018
Phone: +1 (781) 370-3600