Travel technology firm Amadeus is teaming up with Visa's CyberSource to enhance anti-fraud measures for the industry.
In an announcement Thursday (Aug. 29), Amadeus said the tie-up will combine the payment, customer authentication and fraud management capabilities of CyberSource with Amadeus's reach in the travel sector to connect industry players with fraud and payment solutions.
The companies pointed to the European Union's PSD2 and Regulatory Technical Standards requirement Strong Customer Authentication (SCA) as key factors behind businesses' need for enhanced fraud mitigation efforts. Collaborating with CyberSource, Amadeus said, will enable the company to help businesses become SCA-ready.
Via CyberSource, companies in the travel sector will ensure compliance, while travel merchants and their banks can more seamlessly exchange data for strengthened risk management. Their collaboration also supports in-app authentication on mobile solutions as well as the ability for firms to seek exemptions under SCA requirements.
“The travel industry, like so many, is facing a new era shaped by new technology and regulation,” said Justin Fraser, head of CyberSource Europe. “This is coupled with the changing demands of consumers, who are expecting to interact and transact with ease.
“It’s critical to offer a seamless payment experience, while meeting new regulatory requirements and delivering effective authentication and fraud management,” he continued. “Travel merchants that have the right technology in place will be in a stronger position to optimize exemptions under SCA, manage fraud, and ultimately deliver on traveler expectations for simple and secure travel payments.”
Amadeus Managing Director of Payments Bart Tompkins added that the rise of mobile payments in the travel industry is also adding pressure on businesses that need to support customers' payment wants with regulators' compliance needs.
“By working closely with the CyberSource team, we have committed to delivering the benefits of the new 3DS 2 protocol across our solutions and the wider travel ecosystem — laying the foundation for simple and efficient two-factor authentication by harnessing innovations such as biometrics,” he said.