The International Air Transport Association is partnering with ecommerce security platform Riskified to help airlines better detect fraud in online ticket sales.
IATA is integrating Riskified's Chargeback Guarantee tool into the IATA Financial Gateway, which airlines use for payment processing. The platform uses artificial intelligence to analyze ticket transactions, comparing them to billions of previous online transactions, to determine instantly whether airlines should approve or decline each purchase. If an approved purchase turns out to be fraudulent, Riskified reimburses the carrier, according to IATA.
This will prevent carriers from being overly conservative in review orders and enable them to gain revenue "by declining fewer consumers out of a fear of fraud, no matter where the customer is in the world," according to Riskified chief revenue officer Peter Elmgren.
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May 06, 2021 at 10:39PM
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IATA Partners with Riskified to Help Detect Ticket Fraud - Business Travel News
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