Jet Airways First Indian Airline to Implement Automated Online Risk Management Solution CyberSource Provides Online Fraud Solution
Released on: October 15, 2007, 1:39 am
Press Release Author: JetAirways
Industry: Transportation & Logistics
Press Release Summary: Jet Airways First Indian Airline to Implement Automated Online Risk Management Solution CyberSource Provides Online Fraud Solution
Press Release Body: MUMBAI, India, READING, U.K., and MOUNTAIN VIEW, Calif., USA - 11 October 2007 - Jet Airways, India's premier airline, is the first airline in India to implement an automated online risk (fraud) management solution. CyberSource Ltd., a wholly owned subsidiary of CyberSource Corporation (NASDAQ: CYBS), a leading provider of electronic payment and risk management solutions, is providing its Decision Manager solution to Jet Airways to help streamline online risk management processes and reduce fraud.
Historically, Jet Airways has relied on internal solution and review processes when managing its online payments. In keeping with its philosophy of innovative solutions, Jet Airways was quick to realize the need to update its procedure with an automated and flexible risk management solution that could be specifically tailored to the Indian market. Jet Airways selected CyberSource's Decision Manager based on the product's proven flexibility, reliability, scalability, as well as CyberSource's reputation in the payment industry.
Decision Manager automatically evaluates transactions in real-time, and based on a combination of rules determined by Jet Airways, the airline is able to estimate whether the online ticket purchase should be accepted, rejected or reviewed. All this happens within a span of a few seconds. The rules can be updated at any time via an easy-to-use business interface. This flexibility enables companies to continually adapt fraud screening strategies to meet the unique requirements in the marketplace.
Mr. Gaurang Shetty, vice president, marketing at Jet Airways, commented, "In keeping with our traditions of being first movers in Indian aviation and employing the world's leading-edge technology, we implemented CyberSource's solution, Decision Manager, which we believe will help us take proactive action on suspect online ticket purchases, thus reducing fraud. We are committed to customer data security with credit card security being a top-most priority at Jet Airways." Mr. Shetty further added, "Our recently implemented enhanced online payment security, viz. Verified by Visa and MasterCard SecureCode, along with Decision Manager, will now give our customers further confidence to transact using their credit cards on jetairways.com."
Dr. Akif Khan, head of client and technical services at CyberSource, said, "We have been working closely with Jet Airways to understand the fraud trends in India and to help ensure that our solutions meet the unique requirements of this market. Our experience in the airline industry together with the robust and scalable nature of Decision Manager, were key factors in securing this contract. By understanding the major payment and risk management challenges in India, CyberSource offers merchants a combination of local market knowledge and industry expertise, with the goal of helping Indian organizations maximize their online revenue opportunities."
Jet Airways, The Spirit of New India
Jet Airways currently operates a fleet of 66 aircraft with 5 Boeing 777-300 ER, 50 classic and next generation Boeing 737-400/700/800/900 aircraft, 4 Airbus A330-200 aircraft and 7 modern ATR 72-500 turboprop aircraft. With an average fleet age of 5.1 years, the airline has one of the youngest aircraft fleets in the world. Jet Airways operates over 340 daily flights to 53 destinations that span the length and breadth of India and beyond, including New York (Newark), Toronto, London Heathrow, Singapore, Kuala Lumpur, Colombo, Bangkok, and Kathmandu. The airline plans to further extend its international operations to other cities in North America, Europe, Africa and Asia in the coming years with the induction of wide-body aircraft into its fleet in 2007. Since its inception in May 1993 until August 2007, Jet Airways has flown over 75 million passengers.
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 center, and point-of-sale environments. CyberSource also offers industry leading risk management solutions for merchants accepting card-not-present transactions. CyberSource Professional Services designs integrate and optimize commerce transaction processing systems. Over 20,000 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. For more information, please visit the CyberSource Ltd. web site at www.cybersource.co.uk or email email@example.com.
More information about CyberSource solutions for airlines can be found at:
http://www.cybersource.com/solutions/airlines/ JET AIRWAYS PUBLIC RELATIONS NEW DELHI, MUMBAI OCTOBER, 2007
Jet Airways (India) Ltd.
RAGINI CHOPRA VICE PRESIDENT - CORPORATE COMMUNICATIONS & PR NEW DELHI, INDIA TEL: +91-11-4164 5080 FAX: +91-11-4609 5084 firstname.lastname@example.org
A.K. SIVANANDAN SR. GENERAL MANAGER - PR NEW DELHI, INDIA TEL : +91-11-2652 3357 FAX : +91-11-2652 3348 email@example.com
SRIRUPA SEN MANAGER - PR MUMBAI, INDIA TEL : +91-22-2852 3648 FAX : +91-22-2920 4437 firstname.lastname@example.org
Web Site: http://www.jetairways.com
Contact Details: Jet Airways (India) Ltd. S.M. Centre, Andheri-Kurla Road, Andheri (East), Mumbai 400059 India