Travel industry profit margins continue to be hit by the cost of credit card fraud through chargebacks.
The International Air Transport Association puts the cost of credit card fraud at $1 billion annually and the issue remains a serious risk for all travel companies.
Steps can be taken to mitigate the risk, however, including awareness of the factors that lead to travel chargebacks.
In an interview at the PhocusWire studio at The Phocuswright Conference, Marty Williams, vice president of enterprise business development for Chargeback Gurus, elaborates on some of those factors and looks at steps travel companies can take to tackle the credit card fraud.
The company works with travel brands including Marriott to help reduce chargebacks.
Williams recommends open communications between travel merchants and credit card companies, keeping evidence to fight claims and monitoring success rates.
Watch the full interview below with PhocusWire’s senior reporter Linda Fox: