Thailand-based ONYX Hospitality group has entered a partnership with CyberSource, a Visa Inc company and a provider of e-commerce payment management services, in a bid to extend its customer reach globally by offering secure online payment services to its guests.
Under the agreement, ONYX will be able to leverage CyberSource's global payment gateway services to process online payments for various card types from multiple issuers. "With the burgeoning growth in the online travel industry, securely accepting online payments from different card types and regions is the key to success in this industry," said Chetan Patel, vice president of Strategic Marketing and eCommerce at ONYX Hospitality Group.
According to Cybersource's Airline Fraud Report in 2011, airlines in Asia Pacific saw the highest rate of revenue loss from transactions processed on their own websites due to fraud. Hospitality companies that proactively safeguard the consumers' interests by keeping fraud under control are thus expected to have a competitive advantage in the global online travel market.
In line with this, ONYX will deploy CyberSource's Decision Manager to enhance its automated fraud screening and case management services. With the Decision Manager, ONYX will be able to pinpoint fraud faster, more accurately and with less manual intervention, according to a joint media statement from Visa and CyberSource. This is achieved by screening inbound orders against data and correlations from more than 60 billion transactions processed by Visa and CyberSource annually. The transaction data is supplemented by 260 validation and correlation tests, which enable the solution to effectively expand the depth and breadth of visibility in transaction patterns.