‘Trust My Travel’ Fights Fraud, Scales the Online Travel Industry with Checkout.com
3 min read
Trust My Travel helps travel companies around the world navigate the complicated online travel landscape. Working with Checkout.com, they provide financial protections and payment services to their members, helping them grow by reducing fraud, expanding their offerings, and increasing conversion rates.
Trust My Travel specializes in providing financial protection to travel companies by offering payment tools and insurance solutions that bring greater security to the business and to their customers. The solutions localize its members’ offerings and help scale their businesses internationally across multiple markets. Through their partnership with Checkout.com, Trust My Travel has been able to grow their own business globally, reduce fraud for their customers, and increase consumer confidence in the travel space.
Payment challenges in travel
Payments in online travel hasn’t always had the best reputation, with fraud being the chief concern for many online travel operators. As consumers increasingly spend their hard-earned money on experiences rather than physical goods, the travel industry is booming and online travel agencies (OTAs) are on the rise. While that’s great news for the industry, there remain many challenges for e-commerce entrepreneurs getting into the travel space. Catering to an international market means coming face-to-face with cross-border complexities, navigating currencies and exchanges, understanding regional customer preferences, and many other nuances associated with entering foreign markets. For travel companies, these elements can create vulnerable entry points for fraudsters which can lead to high fraud and chargeback levels.
This is where Trust My Travel comes in.
Trust My Travel works with these travel companies to help them identify the source of the fraud, work to isolate the issue, and find ways to enhance protection. By putting protection tools in place together with Checkout.com, Trust My Travel has helped numerous travel companies bring their fraud ratios down, improve their service and increase conversion rates for their merchants.
Trust My Travel also helps travel companies navigate the complex global online landscape by providing payment services through their partnership with Checkout.com. “In the travel space, agencies need to be able to sell cross-border and to an international market to really gain traction and grow the business,” says Will Plummer, CEO of Trust My Travel. “We do a lot of foreign exchange and selling in different currencies because that’s crucial. With Checkout.com, we’re able to offer virtually every currency in the world. That’s important for travel companies to grow their customer base,” adds Plummer.
Additionally, while credit cards are a popular form of online payment in the UK and the U.S., other customers around the world prefer to pay using alternative or local payment methods. Working with Checkout.com, “we’ve been able to add more alternative payment methods onto the gateway and help travel companies provide more payment options to the customers, ultimately improving their conversions,” says Plummer.
Partnering with Checkout.com
Trust My Travel started working with Checkout.com three years ago when they needed to find a solution for one of their merchants: a travel company that wanted to process the domestic currency of the UAE, the dirham. There were not many providers in Europe able to support this – while also supporting like-for-like settlements.
They found their solution with Checkout.com
The solution was good. So good, in fact, that Checkout.com eventually replaced 90% of their acquiring relationships around the world allowing them to expand their operations – both in where they operate and how they operate. “The experience was easy and we’ve had support throughout the time we’ve been with Checkout.com. We’ve been able to expand together and they’ve helped us grow into different jurisdictions. It’s a great partnership for us,” says Plummer.
As a 24/7 business, platform reliability is key for Trust My Travel and their merchants, “We can’t afford our customers not being able to process payments. With Checkout.com, we have not experienced any downtime and that reliability is crucial to our customers,” says Plummer.
In addition to leveraging Checkout.com’s fraud management tool, Trust My Travel’s team has been able to leverage the Hub, Checkout.com’s merchant dashboard, where they can see all their payments, transaction histories and access data and reports anytime allowing them to see everything that’s going on with their business. “Through the Hub, my team can see reporting on a daily, weekly and monthly basis. It’s helped develop our business by understanding what's going on,” says Plummer.
What’s next for Trust My Travel?
Trust My Travel now processes in 120 countries, with merchants across all of these and with cardholders around the world.
The company will soon be launching Trust My Travel Protects Me, a product that will give the end traveler more information about their service and how they benefit from booking with one of their members. The product aims to increase consumer confidence in their members’ brands by giving their customers assurance and peace of mind that their funds are protected by offering consumers greater transparency, informing consumers about their transactions and what they’re paying for.
Trust My Travel continues to grow, recently opening an office in Hong Kong and, with support from Checkout.com, will be expanding further into the Asian markets from there. Soon after, they plan to open operations in Australia. “Checkout has been with us through the journey. It really feels like we’re part of their team and they’re part of ours,” says Plummer. “The level of support with Checkout.com is fantastic and they’ve been a great champion of our business,” he adds.