Best Practices for Preventing Fraud While Preserving Customer Experience

Gaining a deeper understanding of their customer base — while also improving their awareness of industry and global fraud trends — will set airline and travel brands on a clear runway to success.

Here are some best practices for a more effective fraud prevention strategy:

• 1. Understand which segments are higher risks.
• 2. Compare risk and revenue.
• 3. Get personal with customers.
• 4. Beware of automatic filters.
• 5. Partner with a trusted fraud protection solution provider.

Compare Risk and Revenue

Airline and travel brands using ecommerce for transactions should review their current approval rates to get a clear picture of how well they’re balancing risk with revenue.

Beware of Automatic Filters

Ecommerce platforms have the best intentions to keep an online merchant protected from fraud, but blindly turning on filters as if every customer and every transaction is the same is a recipe for false declines.

Be very cautious of automatic filters, especially when applying multiple filters, as they can either cancel each other out or double up to the point of declining good orders.

Travel transactions, like all transactions, should have some level of secondary review for any flagged orders.

Partner With a Trusted Fraud Protection Solution Provider

The most effective way to prevent fraud is to work with an expert partner that has the expertise and experience to identify, evaluate and prevent fraud from happening. For travel and airlines companies, that partner should have a global view of fraud and understand the most current tactics used by fraudsters.