Imagine simplifying payment processes, while at the same time enhancing customer security… too good to be true? Not for South Africa-based online travel agency, Travelstart, who developed a mobile booking app called Flapp that has not only boosted sales, but also eliminated the risk of cyber criminals targeting their clients.
The app uses data security technology to enable travellers to book flights between Johannesburg and Cape Town in just a few swipes. Not only does this save precious time, but it also makes use of technology, developed in partnership with Amadeus, that converts customers credit card details into ‘tokens’, ensuring there is no risk to customers.
This case study was included in a brand new white paper, launched by Amadeus, that shines a light on data security and commercial opportunity – “Cybersecurity as a lever for revenue growth: Why Information Security matters to the Chief Commercial Officer”.
Increasingly, African travel businesses will need to find innovative ways to protect their customers and businesses, or run the risk of incurring major costs. Globally, it’s estimated that cybercrime costs the victim company an alarming average of 2.6 million dollars. While online purchases still only make up around 1% of the overall retail market in Africa, this number is growing at a phenomenal rate every year. Not surprising, given that data usage is skyrocketing throughout the continent and the mobile banking industry is making great strides.
In this new white paper, we unpack some real world examples and provide a comprehensive overview on data security, the rising impact of fraud and the response of the industry. And it’s certainly not all doom and gloom – in fact, with the right mindset and innovation, companies that manage these issues can actually improve customer experience, grow their reputation and ultimately improve their balance sheet.
But success can only be achieved when companies take a holistic approach to security and get the entire organisation involved in the process, rather than letting the responsibility fall to just one department. Some of the other findings of the white paper include:
- Businesses can use security initiatives to improve their customers’ experience and by earning their trust, drive greater sales.
- Storing sensitive data as tokens allows travel companies to eliminate sensitive data altogether from their organisation, greatly reducing the burden.
- Automating fraud management controls will not only reduce the level of fraud a company is exposed to, but also reduce hidden costs.
To read more about what you can take to protect your customers, and your company from cybercrime, and in the process improve customer service, you can download the white paper here.