Ongoing data breaches have made payment fraud a significant threat across the globe, with billions of credit card and personal records available for use by the online fraudster community. Online travel agencies (OTAs) are an attractive target for fraudsters intent on monetizing stolen data.
The challenge for OTAs lies in balancing the need for stronger safeguards against fraudulent activity while maintaining the seamless customer experience that valued travelers have come to expect. Priceline needed a fraud prevention partner that guarded against suspicious activity while supporting same day bookings and eliminating constraints on geography and product selections.
Priceline’s partnership with Forter aims to block the bad guys while ensuring good customers enjoy a friction-free booking experience across the platform – whether booking airfare, hotel accommodations, car rentals, or packages.
With Forter’s real-time fraud prevention solution, the shopping and checkout experience is never compromised. Instead, an innovative combination of proprietary technology, machine learning algorithms, and a team of expert analysts detect and eliminate fraud at both the account level and at the point of sale. All of the work is done behind the scenes, with minimal impact to the good guys.
Priceline selected Forter to augment the fraud detection capabilities of its risk engine. Forter’s unique persona-centric fraud solution understands past and present customer behavior and provides accurate, real-time risk management recommendations. Additionally, Forter is able to significantly reduce chargebacks and bolster revenue by decreasing decline rates. The solution helps Priceline maintain a frictionless experience for its customers, empowering them to book the best travel deals and experience the moments that matter.
Fraud occurs both at the point of sale as well as on the end-user account level. Forter safeguards Priceline’s customers and preserves the company’s user ecosystem by providing a varied portfolio of services protecting all types of fraud and abuse. Forter’s expansive network can discern the good customers Priceline needs to keep, from the fraudsters they need to stop, giving them the confidence to expand and grow their business with reduced risk.
No more lost revenue or lost customers, just seamless fraud prevention in under one second.