The travel industry involves activities that provide people who are business, social or recreational travelers domestically or internationally transportation through the use of air, land, water transport. Of course, it is strongly connected to such sectors as tourism, hotels, and transportation. A Statista Research Department report dated the 18th of December, 2023 shows that the travel and tourism industry is estimated to have contributed about 7. As of 2022 the.share of autonomous vehicles in the global GDP will be 7 trillion US dollars or 7%. however, they being cumulative proportions account for 6 percent of total global GDP. This goes further in illustrating the role of the industry as one of the most extensive and fastest-growing in the global market.
Similar to every other domain or sector, the travel industry is yet to be scammed in this digital world as well. This blog will assist in explaining what are and different travel frauds that can impact the travel industry- and how EIDV can be of benefit in protecting the industry from such scams.
Travel Scams
This has seen the traveling industry similar to other areas of life enhanced by technology. People prefer not to deal in physical things and the travel industry is also offering all the online facilities starting from ticket purchases to payment options. Here, the imposters are taking advantage and are adopting even better and more intelligent strategies and techniques of ripping off people. The following are among some of the most popular tricks that travelers from all countries fall victim to.
- Identity Theft
Identity theft is a situation where a person uses alter ego to shop with the aim of using the person’s identity card number, bank account or credit card number. Online check-in solutions, aimed at eliminating additional specialists and counters to book and pay for a flight, are used by fraudsters. This kind of theft is common in airports because the people involved in the crime act under a fake ID and passports.
- Payment Methods
Fraud such as those that involve the use of stolen debit and credit cards and fake bookings are also popular in this sector. Application of fake chargebacks returns and discounts has effects of high cost to the industry or loss of reputation.
- Fake Travel Companies
Other travelers get legal looking messages from the travel companies, get applications for bookings, or replies to emails from fake companies. That is where they upload their critical data. This exposes the criminals to stealing their identity and using the identity of genuine customers for the intended deceitful ventures.
EIDV Solution
Electronically enabled identity verification or EIDV is an online electronic solution that does not require the verification subject and the verifier to be physically present in the same location since it involves the use of the Automated Biometric Identity Verification system which compares the verification subject’s identity document details with those in the public and private databases. Some of the parameters they employ include name, gender, address or even the date of birth through which they can best match a person with the available affiliation database. These digital solutions offer quick and efficient means of singular and paperless processes for the businesses to confirm the customer’s identity.
EIDV For the Travel Industry
In this field of organizational changes, where all kinds of businesses use internet facilities, the traveling businesses are also offering online facilities to their customers, such as confirmation of tickets and bookings. As a result, the traveling industry has an easy, fast and most of the time, accurate way of ascertaining the identities of its customers through EIDV. An efficient EIDV solution can provide following benefits to the travel industry An efficient EIDV solution can provide following benefits to the travel industry.
- Global Access To The Customers
Traditionally the only possibility to get a booking was to go to the nearest office of the airline which is available in your city and ask about the availability of the seats. Now with the help of EIDV digital solution the travel agencies can reach their customers anywhere in the world. The customers are able to validate their tickets and select their preferred seats of choice from the comfort of their corners of the globe.
- Enhanced Customer Satisfaction
Customers’ identity can be checked in an EIDV solution for just a few minutes, indicating the process to be smooth, and with no paperwork and no exertion. They make the payment methods that are available online more natural than those available physically hence enhancing the customers’ trust and, therefore, their satisfaction.
- Increased Security
Implementation of new technologies, which are artificial intelligence (AI) and machine learning (ML) in electronic verification Services also enhance the effectiveness of the process of electronic verification Services. It helps the firm generate true persons to it, while at the same time, it shields it from such fraudsters, thereby enhancing the operations of the security system.
- Fraud Prevention
This is where EIDV process helps in comparing the customer data with the electronic database and identifying high risk profiles. This assists in rejecting the various con artists and also saves firms from identity theft, unlawful transactions and other unlawful deeds.
- Better Reputation
Through the provision of an EIDV solution, customers of travel agencies experience a good on-boarding process and they are secure when conducting online transactions. This leads to customer loyalty and they prefer the companies that cooperate with digital solutions.
Summing Up
This industry is gradually shifting towards the online platform, and they require an EIDV solution to capture their customer’s identity. Thus, a good EIDV solution can assist travel companies in creating a seamless customer imprinting process, which is of great importance in the client – company relationship. It is a secured method for both the companies and the customers for their online transactions. It defends them from all the existing travel scams and other frauds and sharpen their believability.
