Airline Credit Card Processing Becomes less Risky - Africa Gateway
PayGate credit card processing gateway came across the latest Nielsen Company report which shows that over 875 million people shopped online worldwide in 2007, up 40% on the survey conducted two years prior. This has significant implications for credit card processing gateways who are experiencing consistent growth in quantity and value of credit cards processed online. PayGate has seen a significant increase in the size and volume of credit card transactions processed on the internet in 2008 over 2007. According to Peter Harvey of PayGate, the introduction of Verified by Visa and Master Card SecureCode, has significantly reduced the risk internet credit card merchants are experiencing with their merchant facility. Internet credit card processing with Master Card Secure Code and Verified by Visa has reduced fraud worldwide. Nielsen report that credit cards are by far the most common method of payment for online purchases. Over half of the purchases were done with a Visa card. Robin Philip of PayGate reports that there has been over 40% growth in Travel and Tourism credit card processing and ATV's (Average Ticket Values) have grown to the point that credit cards are regularly processed through the PayGate payment gateway for amounts in the hundreds of thousands.
Internet credit card processing for the airline industry (eticketing) in Africa has become much less risky. Airlines in Africa have been hit hard by fraudulent credit card purchases. In one instance up to R5m per month in fraudulent ticket purchases, and in another the airline closed down and was left with over R300,000 in chargebacks as a result of fraudulent credit card ticket purchases.
Air Namibia was one of the first, if not the first airline in Africa to successfully implement Verified by Visa and Master Card Secure Code with PayGate. Keni Abrahams of Air Namibia is proud to report that they have not had one fraudulent credit card transaction with the new PayGate secure credit card processing system. Internet credit card processing with SecureCode and Verified by Visa has become safer that traditional offline (called mail order "MOTO") credit card processing.
As a result of the requirement for airline eTicketing, the airline industry in Africa is conferring in their choice of the best booking engines, and PayGate is receiving a number of enquiries for their credit card processing gateway as a result of their early wins and consistent reliability for 24/7 large volume credit card processing operations. Abrahams of Air Namibia was particularly pleased with the ease of linking, depth industry knowledge and technical support offered by PayGate, which was invaluable for their first internet credit card processing gateway experience.
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Date Created: 2008-03-04 | Last Update : 2008-03-04 |
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