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IAMAI Online Travel: How safe is it to
fly?

agencyfaqs!
NEW DELHI, May
21
Online travel

is flying high, but is it safe?

‘Fraud’ can be an ugly
word for the e-commerce industry, more so for online travel
where high-value transactions are involved. Fraud can erode
revenue opportunities, break customer’s trust in a company and
impact its reputation. The third panel discussion, called
‘Payments and Security – Exploring New Opportunities and
Preventing Fraud’, tried to confront the phenomenon at the
IAMAI ‘Online Travel: Are You Hooked’ seminar organised on
Friday by IAMAI and agencyfaqs!

Credit card
duplication and practices like phishing are moving people away
from concepts like e-ticketing. The panel, moderated by Vivek
Nayak, COO, Avenues India, suggested various technologies and
methods that can provide a foolproof solution to these
problems.

IRCTC, with a million transactions a month,
is definitely concerned about online security. Sanjay
Aggarwal, general manager, operations, IRCTC, said that the
portal had put 3D security in place since its launch in
September 2005. This refers to secure online payment gateways
such as Verified by Visa (VbV) and Master Card Secure (MCS).
He chose, instead, to pull up banks, saying, “They are
reluctant to invest in technology.”

Belson Coutinho,
head of e-commerce and distribution, Jet Airways, also held
banks responsible for the lack of a robust fraud reporting
process. “Merchants are fighting the fraud fight alone,” he
complained.

Harish
Natarajan

Harish
Natarajan, country risk manager, South Asia, Visa
International, said that the global fraud-to-sales ratio (FSV)
among airlines and air carriers was 0.65 per cent, but in
India, it is as high as 3 per cent. He highlighted various
solutions such as Payment Card Industry Data Security
Standards (PCI DSS), which is verified by a Mastercard and
Visa secure code. But, he added, only 40 per cent of travel
sites in India have a proper customer registration and
activation process.

“Alternate payment models such as
cash cards can be another way out,” suggested Aggarwal of
IRCTC. He said cash cards like the ITZ cash cards are for
those who don’t have credit card or Internet banking or who
don’t want to expose their credit cards on the web. Shekhar
Srivastava, vice-president, marketing, ITZ Cash, added, “Cash
cards are pre-paid and, therefore, lead to zero security
issues.”

Anupama
Salvi

Giving an
interesting turn to the discussion, Anupama Salvi, director,
new business development, Avenues India, said, “Travel portals
and airlines are the poster boys of e-commerce and the travel
sector is the biggest victim.” At the same time, she held that
the travel sector “is the worst culprit with no adequate risk
management team or process in place which sidelines the
customer’s verification”. She pointed out that there is no
adherence to credit card data security standards; the Indian
government doesn’t have any action plan for prosecution of
fraudsters either.

At the end of the session, the
audience was none the wiser, as the experts continued to pass
on the buck of inaction.

© 2007 agencyfaqs! story fileby

Comment
(1)

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“IAMAI Online Travel: How safe
is it to fly?”

From
Vikas — Mon 21 May 2007 01:02:36 PM

Strange
headline.. I thought you menat is flying safe?

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