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Travel firm Opodo.com cuts payment fraud losses and fraud management costs
European travel services firm Opodo.com cut the costs of manually reviewing online payment transactions by 40% while also reducing losses from credit card transaction fraud, according to its payment processor and fraud management firm, Retail Decisions.
Managing Editor, B2B E-commerce
European travel services firm Opodo cut the costs of manually reviewing online payment transactions by 40% while also reducing losses from credit card fraud, according to its payment processor and fraud management firm, Retail Decisions.
Opodo, which is jointly owned by Madrid, Spain-based travel booking company Amadeus GDS and nine European airlines, provides online travel services through multiple international web sites for more than 500 airlines, 65,000 hotels and 7,000 car-rental locations. Early this year, it selected Retail Decisions to provide a set of security technology and services for four Opodo sites that serve travelers in the U.K., Germany, France and Italy. While cutting the cost of manual reviews of payment transactions, Opodo reduced its financial losses resulting from fraud by a “six-figure amount” in the first six months, Retail Decisions CEO Carl Clump says.
Retail Decisions deployed its ReD Shield real-time payments monitoring system, which takes several steps to check for fraudulent transactions. Among them:
Retail Decisions also identifies IP addresses to determine the geographic location of online credit card users to match against legitimate card account holders’ addresses.
In addition to its fraud management services, Retail Decisions also recently began processing German Direct Debit payment card transactions for Opodo’s German web site.