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ONLINE CREDIT CARD FRAUD the East African Travel Market

ONLINE CREDIT CARD FRAUD the East African Travel Market. Aitec banking and mobile comesa – sep /2013 Eran Feinstein – 3g direct pay limited. 3G Direct Pay – WHY?.

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ONLINE CREDIT CARD FRAUD the East African Travel Market

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  1. ONLINE CREDIT CARD FRAUDthe East African Travel Market Aitec banking and mobile comesa – sep/2013 Eran Feinstein – 3g direct pay limited

  2. 3G Direct Pay – WHY? • …because we believe that service providers and end customer should have the FREEDOM to shop and pay online using ANY card type and ANY currency… | AITEC BANKING AND MOBILE COMESA SEP/2013 | ERAN FEINSTEIN | 3G DIRECT PAY LIMITED |

  3. HOW we doing it? • End-to-End solution – filling the gap • Designed and maintained for the Africa travel market • East • Southern • Multi layers package • Technology / Platform • Bank relations • Customer care • Fraud Prevention and Risk Management • Internal industry settlement platform | AITEC BANKING AND MOBILE COMESA SEP/2013 | ERAN FEINSTEIN | 3G DIRECT PAY LIMITED |

  4. HOW we doing it? • The Platform • Real-time transactions • Online payments processing • Online / Offline / Direct / API • Payment Options • Professional bank relationsEU, US, KE, TZ.. • All cards, mobile, PayPal and more.. | AITEC BANKING AND MOBILE COMESA SEP/2013 | ERAN FEINSTEIN | 3G DIRECT PAY LIMITED |

  5. HOW we doing it? • Customer Care • 24/7 for the end customer and the travel provider • It’s about conversion ! • Fraud Prevention • Real-time monitoring • Advanced scoring • Skilled team | AITEC BANKING AND MOBILE COMESA SEP/2013 | ERAN FEINSTEIN | 3G DIRECT PAY LIMITED |

  6. HOW we doing it? • Providers settlement platform • Based on our own providers network • Real-time payment allocation • Instant confirmation | AITEC BANKING AND MOBILE COMESA SEP/2013 | ERAN FEINSTEIN | 3G DIRECT PAY LIMITED |

  7. The Network • Airlines (24) , Hotels and Lodges (150) , Agents and Tour Operators (300) , Diving Centers (10) | AITEC BANKING AND MOBILE COMESA SEP/2013 | ERAN FEINSTEIN | 3G DIRECT PAY LIMITED |

  8. The East African Travel Industry • The main players: • Airlines • Hotels • Lodges • Tour Operators • Travel Agents • 2500 to 3000 providers (Kenya, Tanzania, Uganda, Zambia) | AITEC BANKING AND MOBILE COMESA SEP/2013 | ERAN FEINSTEIN | 3G DIRECT PAY LIMITED |

  9. The East African Travel Industry • Kenya and Tanzania – quick figures • More than $4,000,000,000 (annually) • Online transactions (credit cards and PayPal) $35,000,000 to $50,000,000 • Typical Customer • 80% - Europe and USA • 15% - Eastern Africa (steady increase over the past 2 years) | AITEC BANKING AND MOBILE COMESA SEP/2013 | ERAN FEINSTEIN | 3G DIRECT PAY LIMITED |

  10. The East African Travel Industry • Credit Card Types • 80% - Visa and MasterCard • 15% - American Express (4% until 2011) • 4% - PayPal • Average Transaction • Airlines $450 • Hotel $500 - $1,100 • Travel agent $1,200 - $1,500 • Tour Operator $1,500 - $2,200 | AITEC BANKING AND MOBILE COMESA SEP/2013 | ERAN FEINSTEIN | 3G DIRECT PAY LIMITED |

  11. The East African Travel Industry • 90% of transaction – classic CNP (card not present) • 2% of transactions – 3D secure • Charge-Back • 0.35% to 0.50% (since 2009) • Using stolen card and fly to the Safari ?? • 90% of C/B from airline transactions | AITEC BANKING AND MOBILE COMESA SEP/2013 | ERAN FEINSTEIN | 3G DIRECT PAY LIMITED |

  12. Where is the Risk? • Classic Fraud (low to med) • Stolen credit card • Identity theft • Consume the service • Merchant Fraud (high) • Fake agents • Professional fraudsters • No service, no passengers • Friendly Fraud (low) • Consume the service • Can’t avoid…. | AITEC BANKING AND MOBILE COMESA SEP/2013 | ERAN FEINSTEIN | 3G DIRECT PAY LIMITED |

  13. The Online Fraud – How Does It Works? • Individual Fraud • General Characteristics • Individual fraudster, One-time campaign, access to stolen cards list (low quality), no ‘fine’ details • The Service • Flight/s, One way, short term booking • Passenger • The fraudster, family member/friend | AITEC BANKING AND MOBILE COMESA SEP/2013 | ERAN FEINSTEIN | 3G DIRECT PAY LIMITED |

  14. The Online Fraud – How Does It Works? • Mass Fraud • General Characteristics • Individual/group, professional fraudster/s, massive stolen cards list (low quality), acting as an agent, no close relationship with the passengers, massive payment attempts, very low conversion rate • The Service • Flight, one way and return • Passenger • Not the fraudster, no idea that the service paid using stolen card | AITEC BANKING AND MOBILE COMESA SEP/2013 | ERAN FEINSTEIN | 3G DIRECT PAY LIMITED |

  15. The Online Fraud – How Does It Works? • Professional Fraud and Identity Theft • General Characteristics • Groups only – organization, stole cards list – high quality, 3D-secure lists, access to the card holder details, using ‘fine’ details – complete ‘storyboard’ • The Service • Flights, accommodation • Passenger • The passenger is also a professional fraudster | AITEC BANKING AND MOBILE COMESA SEP/2013 | ERAN FEINSTEIN | 3G DIRECT PAY LIMITED |

  16. The Online Fraud – How Does It Works? • Merchant Fraud • General Characteristics • ‘well organized scam..’, mitigating the KYC procedures, designed websites, products and services, real people, working plan, long term operations • The service • Detailed service, package, accommodation, no-flight ! • Passenger • Fake but well designed identity, no real passenger | AITEC BANKING AND MOBILE COMESA SEP/2013 | ERAN FEINSTEIN | 3G DIRECT PAY LIMITED |

  17. How to Mitigate the Online Fraud? | AITEC BANKING AND MOBILE COMESA SEP/2013 | ERAN FEINSTEIN | 3G DIRECT PAY LIMITED |

  18. | AITEC BANKING AND MOBILE COMESA SEP/2013 | ERAN FEINSTEIN | 3G DIRECT PAY LIMITED |

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