SINGAPORE, March 19, 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 strategic partnership with Korean Air, South Korea's national carrier and largest airline, to provide secure online payment acceptance capabilities and enhance the overall customer experience.
Korean Air is ranked among the top 20 airlines[1] in the world in terms of the number of passengers carried, and its passenger and cargo divisions currently serve 126 cities in 45 countries around the world. The airline's focus on growth and quality service has garnered it industry recognition in recent years with a string of accolades, including the "World's Most Innovative Airline" from the 2012 World Travel Awards. As part of its drive to improve customer satisfaction, the airline is currently in the process of developing a new Passenger Service System (PSS), which will constitute a Global Payment System, a system to integrate all payment and acquiring services. With CyberSource's global payment gateway solution, Korean Air will be able to securely accept a wide range of payment methods, including debit and credit cards and alternative payments across its sales channels.
Korean Air believes that the implementation of its new Global Payment System, complemented with CyberSource's solutions and expertise, will allow the company to take its customers' experience to the next level. The company is confident that its partnership with CyberSource will address the diverse payment preferences of its customers, who come from 45 countries around the world.
The payment solution will be further enhanced with Decision Manager, CyberSource's fraud management solution, featuring the World's Largest Fraud Detection Radar. With insights derived from over 60 billion transactions processed annually by Visa and CyberSource, as well as supplemented by over 260 real-time global validation tests, Decision Manager will enable Korean Air to automatically screen more inbound orders faster, with increased accuracy.
"The online travel industry is global in nature and customers have high expectations on airlines and travel providers in terms of payment security and overall experience. CyberSource believes payment management is a key enabler of airline differentiation and is proud to work with an established airline company like Korean Air to help the carrier achieve its business objectives towards global expansion," said Poon Khye Wei, Senior Regional Director, Greater China and Korea, CyberSource.
Iain Jamieson, Country Manager, Korea & Mongolia, Visa, believes that this partnership is in line with the South Korean government's drive to enhance the eCommerce sector through various laws and regulations, including those covering consumer protection and electronic payments.
