The International Air Transport Association is partnering
with ecommerce security platform Riskified to help airlines better detect fraud
in online ticket sales.
IATA is integrating Riskified’s Chargeback Guarantee tool
into the IATA Financial Gateway, which airlines use for payment processing. The
platform uses artificial intelligence to analyze ticket transactions, comparing
them to billions of previous online transactions, to determine instantly
whether airlines should approve or decline each purchase. If an approved
purchase turns out to be fraudulent, Riskified reimburses the carrier,
according to IATA.
This will prevent carriers from being overly conservative in
review orders and enable them to gain revenue “by declining fewer
consumers out of a fear of fraud, no matter where the customer is in the
world,” according to Riskified chief revenue officer Peter Elmgren.