SEATTLE, February 1, 2024 — Expedia Group announced today that American Express Global Business Travel (Amex GBT) will use Expedia Group’s Fraud Prevention as a Service (FPaaS) solution for travel bookings on its Amex GBT Egencia solution. FPaaS blocks fraudulent transactions before they happen, reducing unscrupulous activity and enabling more protection for their clients.
With data models based on billions of data points from over 25 years of travel industry experience, Expedia Group’s Fraud Prevention as a Service solution leverages artificial intelligence and machine learning (AI/ML) to look at signals and flag suspicious activity when behavior patterns deviate from the norm, allowing intervention before fraud occurs.
Key features included in FPaaS used by Amex GBT’s Egencia solution are ‘Booking Screening’, where Expedia Group reviews e-commerce transactions in real time with AI/ML fraud detection models to stop fraudulent transactions at the source, and ‘Account Takeover Protection’ - Expedia Group monitors and reviews customer logins in real time using AI/ML models to secure the safety and integrity of customer accounts when potentially fraudulent activity is detected via suggested remedial actions.
Other partners can also take advantage of the solution’s ‘Chargeback Management’ feature: Expedia Group’s in-house specialist fraud operations team takes full end-to-end ownership of the dispute management and resolution process, dealing with all interactions with banks and merchants, all backed by a 100% chargeback guarantee, which reimburses partners for any true fraudulent transactions1.
Anxiety around fraud is on the rise. Recent research found that 70% of businesses say their concern about fraud increased compared to the year before and 58% of consumers have been a victim of online fraud, know someone who has been a victim, or both2. The impacts are felt by the travel industry too: in total, fraud costs the travel industry over $21 billion dollars annually, including $6 billion dollars in damages and $15 billion in overheads3. In addition to direct and operational overheads incurred by dealing with fraudulent transactions, they can also result in the loss of personal data and create financial losses through unauthorized logins to customer accounts, resulting in reputational damage and customer retention problems.
“We’ve combined over 20 years’ experience in the fraud prevention space with our unwavering commitment to continually evolve our technology in response to changing partner needs, resulting in targeted business solutions such as Fraud Prevention as a Service,” says Karen Bolda, Senior Vice President, Demand Solutions, Expedia Group. “By leveraging AI and machine learning, we’re happy to be offering Amex GBT a simple and effective way to help them manage fraudulent activity, ultimately, giving their customers better peace of mind when they’re booking trips.”
The technology collaboration shows the progress the partnership is making between Expedia Group and Amex GBT, and symbolizes the strong relationship between the two organizations since Expedia Group sold Egencia to American Express Global Business Travel in 2021.
“We value our long-standing partnership with Expedia Group and their AI-driven solutions that address the ever-evolving needs of business travel and its many stakeholders,” said John Sturino, Senior Vice President of Travel Products and Engineering, Amex GBT. “This collaboration reinforces our commitment to our clients to deliver cutting-edge solutions that still meet the highest standards of security.”
For more information about how Fraud Prevention as a Service can work for your business, click here, or come and speak to one of the team at the Expedia Group booth at ITB in Berlin, March 5-7.
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About Expedia Group
Expedia Group, Inc. brands power travel for everyone, everywhere through our global platform. Driven by the core belief that travel is a force for good, we help people experience the world in new ways and build lasting connections. We provide industry-leading technology solutions to fuel partner growth and success, while facilitating memorable experiences for travelers. Our organization is made up of three pillars: Expedia Product & Technology, focused on the group’s product and technical strategy and offerings; Expedia Brands, housing all our consumer brands; and Expedia for Business, consisting of business-to-business solutions and relationships throughout the travel ecosystem.
The Expedia Group family of brands includes: Expedia®, Hotels.com®, Expedia® Partner Solutions, Vrbo®, Trivago®, Orbitz®, Travelocity®, Hotwire®, Wotif®, ebookers®, CheapTickets®, Expedia Group™ Media Solutions, CarRentals.com™, and Expedia Cruises™. One Key™ is our comprehensive loyalty program that unifies Expedia, Hotels.com and Vrbo into one simple, flexible travel rewards experience. To enroll in One Key, download Expedia, Hotels.com and Vrbo mobile apps for free on iOS and Android devices.
For more information, visit www.expediagroup.com. Follow us on Twitter @expediagroup and check out our LinkedIn www.linkedin.com/company/expedia.
About American Express Global Business Travel
American Express Global Business Travel (Amex GBT) is the world’s leading B2B travel platform, providing software and services to manage travel, expenses, and meetings & events for companies of all sizes. We have built the most valuable marketplace in B2B travel to deliver unrivalled choice, value and experiences. With travel professionals in more than 140 countries, our customers and travelers enjoy the powerful backing of American Express Global Business Travel.
Visit amexglobalbusinesstravel.com for more information about Amex GBT, and follow @amexgbt on LinkedIn and Instagram.
1 When the transaction was deemed acceptable during initial screening. It does not cover transactions that were either screened by FPaaS and not approved, and chargebacks for friendly fraud or service issues, etc.
2 Experian’s 2022 Global Identity and Fraud Report
https://www.experian.com/content/dam/marketing/na/global-da/pdfs/GIDFR_2022.pdf
3 Research from global Edgar, Dunn & Company, on behalf of eNett