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DELHI, INDIA, 7th January 2008
Yatra.com, one of India’s leading online travel portals, today announced that it has implemented a fraud protection system from CyberSource, a leading provider of electronic payment and risk management solutions. Yatra will use CyberSource Decision Manager across its website and call centre operations, which provide airline, car rental, bus and hotel reservation facilities.
Credit card fraud has affected many merchants in India, and the advent of the internet revolution has only served to compound this issue, particularly in the travel sector. Continuing with its customer first philosophy, Yatra required an automated online fraud solution that could not only screen their transactions but quickly identify genuine customers and speed them through the order process. In addition, Yatra wanted to open up their international payment gateway, allowing them to accept cards issued outside of India; these have historically been higher risk transactions.
CyberSource Decision Manager automatically evaluates transactions in real-time, and based on a combination of business rules created by Yatra, the system automatically marks the orders as accept, reject or review. The rules can be updated at any time via an easy-to-use business interface, enabling Yatra to continually adapt fraud screening strategies and meet the unique requirements of the organisation.
Mr Manish Amin, co-founder of Yatra.com, said, “Yatra required a system which could rapidly process information and identify potentially fraudulent orders. CyberSource Decision Manager will enable us to take proactive action against suspect online ticket purchases, helping to reduce fraud. It will also benefit our genuine customers, providing them with an efficient online experience. Mr Amin continued, “Furthermore, the CyberSource system is very user friendly and gives us complete control over our risk management processes.”
Dr Akif Khan, head of client and technical services at CyberSource, said, “The addition of Yatra to our portfolio of Indian merchants further demonstrates CyberSource’s commitment to this region and we are very pleased to welcome them on board. In working with Yatra, one of India’s largest travel services organisations, we will be able to enhance and optimise our Decision Manager solution for this marketplace, paving the way for future growth.”
About Yatra.com
Yatra.com is one of India’s leading Online Travel Company. It’s the one-stop-shop for all travel needs. From air tickets to hotel rooms to holiday packages to buses to car rentals, yatra.com has everything to service today’s traveler. With yatra.com you can book tickets over the internet or through their 24x7 customer care centre or by simply using your mobile phone. Yatra.com gives you access to the best travel deals across a myriad of national and international destinations. As one of the largest consolidator of hotels yatra.com assures you of a hotel room in more than 2,500 hotels across 250 destinations in India. Yatra also has international tie-ups with all the major international airlines and provides real time access to over 90,000 hotels across the world. All products at yatra.com come with a best price guarantee and an assurance of instant bookings. Currently yatra.com is doing an average revenue of $15 million a month and a volume of more than 5000 air tickets and 300+ room nights everyday. The company would have done a turnover of over $120 million by the end of 2007.
About CyberSource Ltd
CyberSource Ltd is a wholly-owned subsidiary of CyberSource Corporation (NASDAQ: CYBS). CyberSource is a leading provider of electronic payment and risk management solutions. CyberSource solutions enable electronic payment processing for web, call centre, and point-of-sale environments. CyberSource also offers industry leading risk management solutions for merchants accepting card-not-present transactions. CyberSource Professional Services designs, integrates, and optimises commerce transaction processing systems. Over 220,000 businesses use CyberSource solutions, including half the companies comprising the Dow Jones Industrial Average. The company is headquartered in Mountain View, California, and has sales and service offices in Japan, the United Kingdom, and other locations in the United States including Bellevue, Washington and American Fork, Utah. For more information, please visit the CyberSource Ltd web site at www.cybersource.co.uk or email uk@cybersource.com.
© 2008 CyberSource Corporation. All rights reserved. CyberSource is a registered trademark in the U.S., the U.K. and other countries. CyberSource Decision Manager and CyberSource Payer Authentication are trademarks of CyberSource in the U.S., the U.K. and other countries. All other brands and product names are trademarks or registered trademarks of their respective companies.
