In association with: PayPal
Travel is one of the industries that is most vulnerable to fraud, so working with a payments partner like PayPal can help protect businesses within the sector.
With a mix of data, models and tools, PayPal can help protect both your business and consumers from the threat of fraud and help keep your money safe.
The travel industry is the second-most prone to fraud after the retail industry*, and travel businesses are encouraged to take steps to mitigate this risk, including improving cybersecurity measures. This can be done through using secure firewalls and undergoing data backups.
Fraud can be carried out in several ways, including credit card fraud, where skimming devices and false cards are used – the hotel sector alone is where one third of all credit card fraud cases occurs. Data breaches are another potential issue, where payment information is leaked, while holiday booking fraud can also occur, where fake travel agents and booking websites are used.
Against this backdrop, choosing the right payments provider such as PayPal can help prevent fraud from happening. Payments are processed more securely and successfully, with real-time transaction monitoring.. PayPal is compliant with national and international law, and the payment system can be easily integrated into your e-commerce site.
To find out more, download PayPal’s infographic The pressing impact of fraud on the travel industryhere.
Keep up to date with the trends
To make sure travel organisations are on top of the latest industry trends, PayPal has teamed up with leading analyst TrendWatching to create a report The new traveller: key trends in 2022 and beyond.
In this report, you can find out more about what is shaping travel, from the growing importance of conscious travel and the rise of super apps, to adapting services to digital nomads and how the metaverse is reimagining the booking and discovery process for your customers. Download the report here.
The content of this article is provided for informational purposes only. You should always obtain independent business, tax, financial, and legal advice before making any business decision.
* WEX Inc, ‘Travel Industry One Of Most Targeted For Fraud‘, 20 May 2019