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Digital Identity, Security & Online Fraud

Payment fraud remains top concern for Canadian travel agents

Thursday 4 February 2016 | 09:59 AM CET

Payment fraud remains the top concern for agents, a recent report unveils.

According to a recent research commissioned by eNett, current industry trends are forcing agents to reassess their payment methods. For example, Canadians continue to make more international trips, and to more exotic destinations. In 2013 alone, over CAD 30 billion was spent overseas. Consequently, agencies need to make more payments to previously unknown suppliers, in riskier locations.

Traditionally a market where checks have been prevalent, there is now a shift toward online payments, bringing a reliance on credit cards which are inherent with misuse and data theft. It is also leading agencies to reassess pass-through as the primary method of paying suppliers. The research found that 90% of all hotel bookings made by travel agencies were passing through the customer credit card. However, the responsibility for protecting the customer’s details, and the loss of goodwill and money if details are used fraudulently, means agencies reported a growing reluctance amongst travel buyers and individuals to share card details.

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