India's Largest Travel Network Via.com
Works with CyberSource to Enhance Payment Authentication Process
CyberSource, a Visa Inc. company (NYSE: V),
and one of the world's largest providers of eCommerce payment management
services, today announced a collaboration with Via.com, formerly known as
Flight Raja Travels, India's largest travel network. CyberSource will help
Via.com extend its global customer reach while providing safe and secure
payment services.
Via.com, a well-known brand name in the
travel industry, currently serves more than 40 million customers worldwide and
has more than 40,000 travel partners in Brazil, India, Indonesia, the
Philippines and Singapore. Through this collaboration, Via.com will leverage
CyberSource Decision Manager to enhance its payment authentication process for
card payments, enabling Via.com's customers to have a better payment
experience, thereby building customer loyalty.
Online travel agencies are growing in
importance and are experiencing fast growth globally, especially those from
emerging markets such as China and India. It was also found that over the past
five years, online travel agency (OTA) websites were responsible for one-third,
or US$21.3 billion, of all online hotel bookings[1]. This is a reflection of
the importance of OTAs in the travel distribution and reservation chain. With
increasing pressure on margins, companies that implement streamlined fraud
management practices can enable a higher number of successful transactions and
thus improve their customers' payment experience.
"Via has more than 40,000 partners
across this region and we recently launched our business in Hong Kong,
Malaysia, Myanmar, Thailand and Vietnam. As we continue to scale up our
business in diverse geographic locations, enhancing the payment authentication
process for our merchants and customers becomes a priority due to our
multi-jurisdictional presence. We are excited to embark on this collaboration
with CyberSource, due to its international and market leading presence in
providing fraud management," said V. Swaminathan, Chief Executive Officer,
Via.com.
Via.com views online fraud management as
one of its top business priorities. With CyberSource Decision Manager, Via.com
will be able to pinpoint fraud faster, more accurately and with less manual
intervention. This is achieved by screening inbound orders against data and
correlations from more than 60 billion transactions processed by Visa and
CyberSource annually. The transaction data is supplemented by 260 validation
and correlation tests, which enable the solution to effectively expand the
depth and breadth of fraud-pattern visibility.
"CyberSource recognizes fraud
management as one of the key requisites for successful travel agents worldwide.
We are delighted to work with Via.com to help it achieve its business targets.
By implementing Decision Manager, we hope to help Via.com significantly reduce
chargeback disputes arising out of suspicious transactions, ultimately
improving the transaction experience for both its agents and customers,"
said Michael Bradley, Managing Director, Asia Pacific, CyberSource.
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