Chargebacks911® CEO Monica Eaton recently shared her insights on new and developing travel industry fraud threats in a new feature for Entrepreneur.
Entrepreneur is an American magazine and website that carries news stories about entrepreneurship, small business management, and business. The magazine was first published in 1977. It is published by Entrepreneur Media Inc., headquartered in Irvine, California.
As Monica explains, travel has largely recovered from the pandemic shutdown. But, a record-setting season may be undermined by fraud. “This surge in travel drives global business at every level of the economy, but it also creates a heightened sense of risk,” she says. “For businesses, effectively managing fraud and chargeback risk year-round is crucial to navigating the travel space.”
Factors like increased transaction volume, overbookings, and stretched-thin customer service could cause problems. The result would be elevated risk for fraud and chargebacks.
“As we gear up for a record-setting summer, it's clear that improved industry collaboration could be the key to addressing fraud and chargebacks... By harnessing open data, businesses can gain valuable insights into traveler preferences and behaviors. This insight can be refined using AI to forecast trends and tailor services.”
