IATA and Perseuss provide resources to alleviate fraud costs during COVID-19 crisis
The COVID-19 outbreak has been declared a public health emergency of international concern, causing a huge economic impact on travel agents. Despite the lower volumes on sales, scammers try to take advantage of market conditions and fraud units are still facing fraudulent payments.
During this difficult time, IATA is making IATA Perseuss more accessible to all airlines and agents worldwide. IATA and Perseuss will be waiving all fees during 3 months for any new applicant in 2020. Consequently, the costs of fraud including chargebacks, bank fees, and resources can be reduced.
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Airline ticket sale is an attractive ground for fraudsters. Card payment fraud is estimated to amount to over one billion dollars a year in the airline industry. IATA Perseuss is the world's leading platform for fraud intelligence, allowing airlines and other merchants to cooperate to identify and fight fraudulent schemes.
Real-time access to cross-sector fraud data
From a small group of seven European airlines sharing experiences and data, to a huge global cross-sector community of merchants. Perseuss has developed into the world's leading platform for fraud intelligence.
IATA Perseuss enables real-time access to cross-sector fraud data, through community based sharing between stakeholders in the commercial and payment industry. As fraudsters don't limit their activities to one industry or region, there's an average fraud overlap of 35% between merchants. By cooperating and learning from each other, you don't give fraudsters a chance.
Decrease your manual review and fraud costs
Users can check transaction for fraud overlap against the Perseuss database real-time through an API integration, either directly or through your Payment Service Provider. Perseuss applies a hybrid scoring model to define the fraud risk of your transactions. Additionally, it offers a range of features enabling your fraud analysts to do in-depth analysis on specific cases.
Using IATA Perseuss decreases manual review and fraud cost, thereby increasing your bottomline results.
Check what IATA Card services can do for you