Protect Your Customers and Your Reputation
In a world where fraudsters are becoming more organized and sophisticated, here are some strategies hotels should deploy to protect their customers, brands and bottom line:
- Have EMV-enabled point-of-sale terminals to reduce risk of card-present chargebacks;
- Leverage passive data collection to assess transaction risk. Collecting and analyzing data such as device intelligence, site navigation metrics and IP address does not create customer friction but provides valuable insights on the risk of a transaction;
- Incorporate machine-learning/big-data insights from your own brand and a community of merchants to provide a more nuanced view of the risk of a transaction;
- Create workflows to dynamically route higher-risk transactions for additional scrutiny;
- Align loyalty and payment transactions fraud strategies to ensure optimal performance; and
- Understand typical and out-of-pattern behaviors for a customer and layer in this customer insight to refine your risk score.