CyberSource, a Visa Inc. company, and one of the world’s leading providers of eCommerce payment management services, has formed a strategic global partnership with Amadeus, a leading technology partner for the global travel industry. The agreement brings an integrated travel reservation and fraud management solution to airlines, travel agencies and other travel organisations worldwide.
Global fraud rate down, but online ticketing still seeing challenges. Survey findings released by CyberSource Corporation, a Visa company (NYSE: V) show that while airlines are gaining in their war against fraud, much work remains to be done. Airlines reported a loss of about $1.4 billion USD to online payment fraud in 2010.