United Kingdom
United States
Asia Pacific
Payment fraud a growing threat for agents in Canada
Monday, 05 Feb, 2016
0
Payment fraud is top of mind as a major concern for travel agents in Canada, new research reveals.
Market research firm Euromonitor says fraud prevention is a top priority for supplier payments.
The study showed that despite a weak currency, Canadians are making more overseas trips, to more exotic locations.
As a result, agencies are making more payments to previously unknown travel suppliers, often in areas where the risk of fraud is high.
Research found 90% of all hotel bookings made by agencies were made through a customer’s credit card but they reported growing resistance from travel buyers and individual customers to share card details with unknown suppliers overseas.
"The research has shown how growing international and online payments are increasing the risk of fraud. Agencies are being driven to find alternative payment options that will enable them to keep up with industry trends, while protecting them and their customers from fraudulent transactions," said Anthony Hynes, CEO of B2B travel payments company eNett.
eNett, which is backed by Travelport, uses virtual account numbers (VANs) which automatically generate a 16-digit number to be used for supplier payments.
Travel agents can specify strict parameters for each payment to minimize potential fraud, such as the exact amount, currency, date of transaction and merchant, eNett said.
Related News Stories:
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Bubba O’Keefe on Clarksdale’s Vibrant Music Scene
Commemorating Elvis and Embracing Tupelo’s Culture with Jennie Bradford Curlee
Craig Ray and the Expansion of the Blues Trail
Presenting Mississippi’s Cultural Trails with Katie Coats
Robert Terrell: A Journey Through BB King’s Influence
Rochelle Hicks: Celebrating Mississippi’s Musical Legacy
Exploring Jacksonville with Katie Mitura: The Flip Side of Florida
Tricia Handley-Hughes of Inteletravel announces the location for the TravelQuest 2025 conference
Insights from James Ferrara on Inteletravel’s Growth and Future
Tricia Handley-Hughes on Inteletravel’s Growth and Challenges
Tony from Gatto’s Pizza on Columbus’s Unique Pizza Trail
Sophia Hyder Hock on Global Social Inclusion in Tourism
Dozens fall ill in P&O Cruises ship outbreak
Woman dies after getting ‘entangled’ in baggage carousel
Turkish Airlines flight in emergency landing after pilot dies
Boy falls to death on cruise ship
BA pilot dies during layover