Sweden-based Etraveli Group has partnered with e-money institutions Outpayce from Amadeus to tackle fraud in the travel industry. In essence, this collaboration will integrate Etraveli Group's Precision risk management solution with Outpayce’s Xchange Payment Platform.

This integration will allow airlines and other travel entities using Outpayce’s platform to access Precision's advanced fraud detection capabilities through a unified interface. Precision, developed by Etraveli Group is designed to screen transactions in real-time across a variety of payment methods. With this partnership, Precision will now be available to the broader travel industry, providing its risk management tools to additional airlines and travel sellers.

Precision's technology aims to enhance fraud detection by providing real-time transaction assessments and reducing the need for excessive authentication steps. The system employs various technologies to decide whether to approve or reject transactions or to apply targeted 3D Authentication, aiming to streamline the payment process while minimizing fraud. Representatives from Etraveli Group stated that Precision has been crucial for the company’s expansion and has addressed industry challenges effectively.

They also highlighted that Precision's use of AI technology has been effective in balancing payment acceptance and fraud management. Officials from Outpayce remarked that their payments platform aims to provide travel companies with advanced fintech services to make informed decisions about payment processing. They noted that Precision’s specific design for the travel industry would help reduce fraud costs and increase payment acceptance.

Fraud in the airline industry Fraud remains a significant issue for the airline industry. Research by RSA Security and Juniper Research indicates that nearly 46% of fraudulent transactions occur within the airline sector. Additionally, a report by Amadeus highlights that half of travel payments leaders view fraud as their most pressing challenge.

Earlier this year, Etraveli Group and Amadeus (Outpayce's parent company) initiated a strategic agreement to share travel content. As part of this deal, Amadeus will distribute content from Etraveli Group, including options from its subsidiary TripStack, and will serve as Etraveli Group’s primary provider for New Distribution Capability content. For more information about Outpayce, please check out their detailed profile in our dedicated, industry-specific Company Database.

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