PriceTravel Selects Accertify to Protect its Online Travel Platform against Fraud
CHICAGO, IL and MIAMI, FL – September 6, 2011
Accertify, a leading fraud prevention and risk management provider, announced today that PriceTravel, a rapidly growing online travel agency based in Latin America, has signed an agreement to leverage Accertify’s comprehensive risk management solution. This signing is the latest achievement in Accertify’s successful expansion into Latin America and the Caribbean (LAC).
Headquartered in Cancun, Mexico, PriceTravel provides an online portal for consumers to reserve hotels, packages, car rentals, tours, and airline tickets for major destinations in Mexico, Dominican Republic, the United States and the Caribbean. To address the threat posed by growing card-not-present fraud and chargebacks in Mexico, Accertify, an American Express company, will provide a tailored fraud solution to detect and resolve payment fraud. This platform is expected to significantly reduce PriceTravel’s fraud-related losses and administrative costs while enabling the company to streamline the review of processing transactions, reducing fulfilment delays and boosting customer satisfaction.
“We have been fortunate to sustain significant growth through the past few years, and we realize that our increasing volume of transactions exposes us to an increased threat of fraud. With their flexible and customizable set of unmatched products and services, Accertify was the perfect partner to help us improve our own platform and implement together an efficient fraud prevention strategy,” said Oliver Reinhart, CEO of PriceTravel. “Because Accertify’s platform effectively automates the transaction screening process, we can focus on growing our business and fostering relationships with our current and future clients.”
“As PriceTravel continues to grow at a rapid pace, it is critical for the company to scale their risk management operations and alleviate their reliance on costly manual reviews. With Accertify completing its fraud prevention strategy, PriceTravel can focus the company’s resources on its expanding business while enjoying the efficiencies of an automated, tailored fraud solution, ensuring its customers and partners are securely protected,” said Eldred Garcia, Accertify senior vice president of business development in LAC.
PriceTravel will incorporate Accertify’s platform into its existing website. The single application will be customized for PriceTravel’s needs and will include screening, prioritization, queuing, review and resolution processes to streamline fraud prevention.
Accertify’s platform is an ideal solution for all types of eCommerce industries in Latin America, as its multi-currency and multi-language capabilities are uniquely positioned to develop customized fraud prevention and risk management solutions for businesses throughout the region. Accertify officially entered the LAC market in December 2010 and recently expanded its presence to Mexico and Brazil to support the company’s fast-paced growth.
Accertify Inc., a wholly owned subsidiary of American Express, based in Itasca, IL, is a leader in providing e-commerce companies with hosted software solutions, tools and strategies for preventing online fraud and mitigating enterprise-wide risks. Its Interceptas® platform integrates every component of fraud prevention, applies state-of-the-art automation to each step in process and offers advanced capabilities for managing fraud data. Built with a merchant's perspective, Interceptas delivers flexibility in preventing various types of criminal behaviour, including fraud related to card-not-present purchases, online scams and policy abuse, merchandise returns and exchanges and other data management challenges. Accertify is committed to providing online companies with the most cost-effective solution to fraud available. For more information, visitwww.accertify.com.
Diana Postemsky, American Express