Priceline Selects Forter to Fight Online Travel Fraudsters

NEW YORK–(BUSINESS WIRE)–Forter,
the leader in e-commerce fraud prevention that automatically protects
merchants during each moment a consumer interacts with their brand
online, today announced a new agreement with Priceline that will help
the online travel agency guard against fraud, increase transaction
approval rates and improve the customer checkout experience.

Priceline selected Forter as a fraud prevention solution to proactively
guard against suspicious activity and better protect consumers from
fraud. The recent rise of data breaches has made fraud a more
significant threat in America. In 2018 alone, the personal data of more
than one-third of all U.S. citizens was exposed through thousands of
leaks, resulting in a spike in online fraud attacks fueled by this
stolen information. Forter’s most recent Fraud
Attack Index
found that online travel agencies (OTAs) are a
particular target for fraudsters, making prevention critical for
retailers in this sector.

As part of the agreement, Forter is collaborating with Priceline to
prevent e-commerce fraud attacks and abuse while improving the user
experience. Forter’s end-to-end solution leverages sophisticated machine
learning technologies, enhanced by human domain expertise and continuous
research, to detect and eliminate fraud at both the account level and at
the point of transaction in real-time for more than one billion
transactions annually. With the use of Forter’s proprietary technology,
Priceline receives fully automated decisions about whether each online
transaction is legitimate in milliseconds, enabling a seamless customer
experience at any scale.

“Many fraudsters specifically target OTAs because no shipping address is
required to buy digital goods and last-minute purchases are common in
the travel industry; this can be incredibly lucrative when the proper
safeguards aren’t in place,” said Michael Reitblat, Forter Co-Founder
and CEO. “We help clients like Priceline reduce chargebacks and bolster
revenue by decreasing decline rates and creating a frictionless
experience for customers.”

“Fraud prevention is a top concern in the online travel sector, which is
why we chose to partner with Forter to ensure that our customers enjoy a
safe and smooth experience when booking travel on Priceline,” said Eric
Lorenz, Vice President of Finance Operations at Priceline. “Forter’s
solution is so effective because it has access to a vast network of
resources, uses artificial intelligence, and instantly notifies us of
suspicious activity. This is critical, since both honest travelers and
fraudsters regularly book travel at the last minute.”

This announcement is the latest in a series of milestones for Forter
that affirm its clear leadership in the fraud prevention space. In 2018,
Forter tripled its customer base, increased its network to more than
180M U.S. shoppers across 2.1B active devices, expanded into Europe, was
recognized on the Forbes Fintech 50 list and Fast Company’s Most
Innovative Companies list and raised $50M in Series D financing from
March Capital, Sequoia Capital and Salesforce Ventures.

ABOUT FORTER

Forter
is the leading e-commerce fraud prevention company that protects
merchants during each stage of the customer lifecycle. The company’s
identity-based fraud prevention solution detects instances of fraud and
abuse beyond transactions in real-time, such as attempts at account
takeover and return abuse.

A team of world-class analysts constantly update Forter’s machine
learning solutions with cutting-edge insights and research, ensuring the
proprietary algorithms adapt to the latest fraud trends in real-time. As
a result, Forter is trusted by Fortune 500 companies, online travel
businesses, and fast-growing digital disrupters to deliver exceptional
accuracy, a smoother user experience and elevated sales at a much lower
cost.

Contacts

Alex Wittner
[email protected]
(646)
277-1218

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