Etraveli Group and Outpayce partner to help the travel industry reduce fraud with a new solution

Stockholm, Sweden, July 23 - Etraveli Group and Outpayce from Amadeus have joined forces in a new partnership to tackle fraud in the travel industry. Through this new partnership, airlines and other travel stakeholders using Outpayce’s Xchange Payment Platform, can now benefit from Precision’s industry-leading risk management solution through a single connection.

Building on its world-leading fintech capabilities and over 20 years of experience, Etraveli Group developed Precision which has been used across its own online travel agency brands. This advanced technology already successfully screens multibillion-dollar transactions in more than 200 countries. Now, Etraveli Group is making Precision available to the wider travel industry, offering its innovative technology and expertise to travel sellers and airlines.

Fraud is a growing challenge for airlines with RSA Security and Juniper Research finding that 46% of all fraudulent transactions occur in the airline industry and half of travel payments leaders identified fraud as their biggest challenge in Amadeus’ latest Travel Technology Investment Trends research.

Precision screens transactions made with multiple different payment methods in real-time so that travel companies can more accurately identify fraud. Using multiple technologies, the solution delivers a direct decision to either approve or decline a transaction or apply targeted 3D Authentication, delivering a smooth payment experience for travelers by minimizing unnecessary authentication steps.

Peny Rizou, Chief Fintech Officer, Etraveli Group commented:
“Precision has been instrumental in Etraveli Group’s growth. Born from travel, it has been pivotal for global expansion by addressing industry challenges under a 360 view. Precision is a robust solution including AI technology that is provenly managing decisions in a way that maximizes payment acceptance while minimizing fraud costs. In alignment with our strategy to expand our B2B technology offerings, we’re excited to offer this service to the wider travel industry through Outpayce’s payments orchestration platform.”

Damian Alonso, SVP Commercial and Partnerships at Outpayce added:
“Our payments platform is all about helping travel companies access the best fintech services to take intelligent decisions about how each payment is handled. Precision is designed specifically for travel and by identifying fraudulent transactions more precisely it can help travel companies reduce the cost of fraud and accept more payments with confidence.”

Earlier this year, Etraveli Group and Outpayce’s parent company Amadeus, agreed on a strategic initiative that allows the two companies to access each other's travel content. Amadeus will source and distribute selected content from Etraveli Group, including virtual interline options from Etraveli Group’s subsidiary TripStack, to its network of travel sellers. Under the terms of the agreement, Amadeus will become Etraveli Group’s primary source for New Distribution Capability (NDC) content.

About Etraveli Group and Precision
Etraveli Group (ETG) is a leading global technology provider for flights, offering flexible solutions for flight content delivery. Partnering with platforms such as Booking.com, Google Flights, Kayak, and Skyscanner, ETG provides seamless flight booking and related services. ETG’s own brands include Mytrip, Gotogate, and Flightnetwork. ETG also operates TripStack, an airline integration company, Flygresor.se, Sweden's leading price comparison site, and EG Fintech Solutions offering the Risk Management solution, Precision. Etraveli Group serves over 30 million flight passengers annually across 75 markets worldwide. www.etraveligroup.com

Etraveli Group has introduced EG Fintech Solutions to leverage its advanced fintech capabilities for the benefit of the wider travel market. The first product, Precision, offers a Risk Management Solution tailored for travel sellers and airlines. EG Fintech Solutions plans to expand its portfolio with additional innovative solutions, utilizing Etraveli Group strengths and further promoting travel specific solutions.

For more information about Precision and how it can benefit your business, visit: https://www.precisionrisk.com/
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About Outpayce
Outpayce from Amadeus is the next step in scaling the Amadeus payments business with fresh investment in talent, an open API platform and a license to deliver new regulated payment services. Outpayce delivers smoother end-to-end travel experiences making travel payments simple. Our open platform that connects FinTech and banking service providers to the entire travel ecosystem allows customers and travelers to easily benefit from new advances in payments. Outpayce Xchange Payment Platform (XPP) solves challenges in areas like authentication, acceptance and foreign exchange (FX) for travel merchants and gives access to partners that resolve areas like chargebacks and fraud management to offer a smoother overall experience for the traveler. Outpayce delivers an end-to-end experience by continuing to work with all Amadeus’ teams and embedding its capabilities in all of Amadeus' applications. The future is travel simply paid. 

To find out more about Outpayce, visit: www.outpayce.com
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