PRECISION, a leading risk management solution built from travel, and FinMont, the global payment orchestration platform for the travel industry, have partnered to tackle one of the travel sector's biggest challenges: payment fraud. According to an MRC report, payment fraud costs airlines an alarming 3.1% of their annual global e-commerce revenue, underscoring the urgent need for advanced, tailored payment solutions in the travel industry.

This collaboration addresses these challenges by integrating PRECISION’s proven fraud prevention technology into FinMont’s platform, creating a next-generation payment ecosystem tailored to address the unique complexities of travel payments.

FinMont was founded by the owners of Hahn Air, a German airline with over 80 years of industry experience. This extensive expertise has given them deep insights into the sector’s need for streamlined payment solutions. Unlike other available options, FinMont offers a unique solution that integrates both B2B payments and B2C into a single view, enabling decision-makers to identify and resolve inefficiencies in their payment processes.

PRECISION, born from Etraveli Group's 20+ years of expertise in travel and technology, stands at the forefront of fraud prevention. With a track record of handling multibillion-dollar volumes across 200+ territories, it delivers an unmatched defense against travel fraud. By orchestrating robust proprietary technology with flexible integrations, it empowers travel businesses to grow in a fast-moving environment with ever-evolving challenges.

Peny Rizou, Chief Fintech Officer, Etraveli Group added "We are thrilled to partner with FinMont to bring our pioneering fraud prevention solution to more travel merchants worldwide. This collaboration reflects our shared vision of advancing payment security and efficiency for travel businesses while ensuring a seamless and reliable payment experience."

Suby Valluri, CEO of FinMont, commented, "Our partnership with PRECISION represents an exciting leap forward in our mission to simplify and optimise payment processes for the travel industry. Together, we will empower travel merchants to overcome the challenges of traditional payment systems, ensuring they stay competitive and efficient."

This partnership underscores both companies' dedication to innovation in the global travel industry. By integrating PRECISION’s state-of-the-art fraud prevention technology and a holistic 360° approach, which not only reduces fraud costs but also boosts sales, FinMont will offer its global network of travel merchants a more secure, efficient, and customer-friendly payment ecosystem.