SHANGHAI, Sept. 23, 2015 /PRNewswire/ -- CyberSource, a Visa Inc. company (NYSE: V), and one of the world's largest providers of eCommerce payment management services, today announced a partnership with China Eastern Airlines Corporation Limited (China Eastern), one of three major airlines in the country. This agreement will allow China Eastern to safely accept online payments and elevate the overall customer experience.
Through this partnership, China Eastern will have access to CyberSource's fraud management tool, as well as support and expertise from CyberSource risk analysts to customize its fraud screening operations. This will significantly enable China Eastern to control its online fraud rate with the ability to accept more genuine orders with confidence, while minimizing the rejection of valid ones. In turn, this will improve the customer payment experience and strengthen customer loyalty.
China Eastern ranks among the world's top five airlines in terms of the number of passengers it carries, which totals almost 90 million annually. Its flight network currently serves more than 1,057 destinations across 179 countries. Emphasizing world-class customer service, the airline is recognized as one of the top 100 brands in China[1]. As part of its drive to elevate customer experience, the airline recognized fraud management as one of its top strategic business priorities. By implementing effective fraud management practices across its payment lifecycle, China Eastern will enable a higher number of successful transactions, in turn enhancing customers' payment experience and lowering operating costs.
"China is the largest travel market in Asia Pacific[2], with Chinese airlines reporting a significant growth in traffic in the first quarter this year[3]. The country's aviation sector is robust and increasingly competitive," a senior management executive of China Eastern stated. "Our aim is to deliver world-class hospitality and travel experiences for our customers to differentiate ourselves from the competition. With CyberSource fraud management solutions and expertise, we ensure secure payment acceptance, improving the number of successful transactions, which leads to greater customer satisfaction. On top of that, we can lower our total cost of operation with stronger fraud management capabilities, boosting our competitive edge in the dynamic airline industry."
CyberSource Decision Manager, which features the World's Largest Fraud Detection Radar, will enable China Eastern to automatically screen more inbound orders faster, with increased accuracy and less manual intervention. This is achieved with insights derived from over 68 billion transactions processed annually by Visa and CyberSource, supplemented by over 260 real-time global validation tests. To further refine its fraud screening and case management services, China Eastern will be working with CyberSource Managed Risk Services. This service will help China Eastern tailor its fraud management strategies, enabling the airline to safely accept more domestic and international transactions.
"Consumers have come to expect simplicity, functionality and convenience when making travel bookings online. With our fraud management solutions and services, we seek to help China Eastern enhance its overall payment infrastructure so that it can accept payments securely, yet faster. We are pleased to work with China Eastern to help it attain its business goals of driving better customer experience and reducing operating costs through the optimization of its fraud management operations," said Poon Khye Wei, Senior Regional Director, Greater China and Korea, CyberSource.
About CyberSource
CyberSource, a wholly-owned subsidiary of Visa Inc., is a payment management company. Over 400,000 businesses worldwide use CyberSource and Authorize.Net brand solutions to process online payments, streamline fraud management, and simplify payment security. The company is headquartered in Foster City, California and maintains offices throughout the world, with regional headquarters in Singapore, Tokyo, Miami/Sao Paulo and Reading, U.K. CyberSource operates in Europe under agreement with Visa Europe. For more information, please visit http://www.cybersource.com/asiapacific.
About China Eastern Airlines
Headquartered in Shanghai, China Eastern Airlines Corporation Limited (China Eastern) is one of three major airlines in mainland China. The airline has a fleet of more than 500 long-haul and short-haul aircraft with an average age of less than seven years. China Eastern's flight network includes 1,057 cities in 179 countries, serving nearly 90 million travelers annually, and ranking among the world's top 10 airlines worldwide in terms of passenger volume. As an official member of SkyTeam, Eastern Miles frequent flyers can enjoy travel rewards with 20 SkyTeam member airlines and in 636 airport lounges globally.
In 2014, China Eastern was recognized as one of the "Top 50 most valuable Chinese brands" by global brand communications agency WPP, and it was also awarded the China Securities Golden Bauhinia Award for "Best Listed Companies". The company was ranked in the top 10 of FORTUNE China CSR Ranking 2013.
China Eastern is committed to become a world-class airline that is "loved by employees, preferred by customers, attractive to shareholders, and trusted by the community". With the concept of "World-class hospitality with Eastern charm", China Eastern aims to create splendid travel experiences for global customers with an "accurate, delicate and precise" service quality. For more information about China Eastern, please visit http://www.ceair.com/ or call +86 (95530).
Media contact:
Felicia Ang
Ying Communications
+65-9113-9636
felicia.ang@yingcomms.com
| [1] |
Millard Brown, Brandz Top 100 Most Valuable Chinese Brands 2014 |
| [2] |
Phocuswright, Asia Pacific Surpasses Europe to Become World's Largest Regional Travel Market, November 2013 |
| [3] |
Centre for Aviation, China airline growth: 57% international surge while domestic holds up and Hong Kong/Macau fall, May 30, 2015 |
