Vietjet Air chooses CyberSource’s fraud management solutions to support its overseas expansion

(Vietjet Air, Ho Chi Minh City, 20 June 2012) Vietjet Air today announced its agreement signed with CyberSource for payment services and fraud-management solution, Decision Manager, to support its online ticketing services as the carrier looks to expand overseas. CyberSource, a Visa’s company, is one of the world’s largest providers of secure eCommerce payment management services. The installation of its payment services and fraud-management solution cements formal cooperation with VietJet Air, Vietnam’s only privately-held budget airline.

VietJetAir's passengers now can enjoy online ticke booking services thanks to our quickest and most secure payment sytem

Desmond Lin, Business Development Director of VietJet Air, said: “This agreement is aligned with our mission to provide our customers with the most reliable and secure online payment process available as part our commitment to best practice across all areas of our business. CyberSource offers the processes, expertise and experience to ensure the very best service for our customers.”

Launched in late 2011, VietJet Air is dedicated to adopting best practices in all areas of its business, and its agreement with CyberSource demonstrates its commitment to secure eCommerce operations.

Michael Bradley, Asia-Pacific Managing Director of CyberSource, said: “VietJet Air is a new and exciting business that’s committed to best industry practice and growth, so we are delighted to be working with them to achieve those goals. With CyberSource Payment Services and Decision Manager together with the support of CyberSource Fraud Analysts, VietJet Air’s customers will be able to buy tickets online from any location, with the confidence of knowing the process will be safe and secure.”

VietjetAir's sexy and dynamic cabin crew

Vietjet Air currently flies Airbus A320 aircraft to Vietnam’s four major economic and tourist hubs - Ho Chi Minh City, Danang, Hanoi and Nha Trang. In late April, it increased its flight frequency on the Ho Chi Minh City-Hanoi route to eight flights per day from three. In late2012, it will expand new routes to other destinations in Vietnam as well as Southeast Asia.

While the CyberSource technology and systems will serve VietJet Air’s local customers, as they switch from lengthy bus and train journeys to air travel, CyberSource Decision Manager will be particularly important when the airline’s international services commence. CyberSource has a proven track record of ensuring the security of eCommerce transactions for merchants like VietJet Air and consumers.

VietJet Air’s decision to use CyberSource reflects an appreciation of the online security problems that exist in Vietnam and in the airline industry as a whole. According to CyberSource’s 2011 Airline Online Fraud Report, in 2010 airlines worldwide lost an estimated $1.4 billion in revenue due to online fraud, representing 0.9% of total worldwide online airline ticket sales.

While fraud loss rates vary by online sales experience and type of airline, the report indicates newcomers with less than three years of online sales experience, like VietJet Air, face a fraud loss rate that is three times higher than that of airlines having more than ten years of experience. With CyberSource, VietJet Air has taken measures to ensure it has industry-leading anti-fraud systems in place, including the expertise gained from years of online fraud detection through CyberSource’s managed services staff.

Vietnam has an ever-growing number of payment cardholders. Late last year, the State Bank of Vietnam said there were 33 million bankcards in circulation. But, at the same time, online and information security in the country remain serious concerns. While promoting the development of non-cash payments in the country as a more reliable and secure alternative to cash, the State Bank of Vietnam is requiring service providers to take more stringent measures to ensure the security of transactions.