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The Effect Of Credit Card Fraud On Low Cost Carriers
Credit cards fraud and their effect on the LCC
Many Low Cost Carriers have emerged in the Indian and neighboring skies and allied business reports have been filtering in ever since as to their positive and negative role-play in what can be the possible future of the travel industry, related fields of business and passengers. However, while most of the world at large is rejoicing at the prospects of big savings and bigger special discounts given by these LCC's to regular, middle class customers that couldn't have afforded air-travel before this option emerged, there is wide-spread panic within the LCC providing services: the impact of credit card frauds on the LCC being the greatest cause of concern for the travel industry.
The impact of credit card fraud on the LCC and how it has led to a greater necessitation for enhanced data security and safer means of alternate transaction of tickets for LCC customers and corporate ticket buying is hanging in the balance currently with industry watchers claiming data theft, and misuse of credit cards
to buy cheap LCC tickets and sell them at premium prices being a real headache for genuine flight operators.
Understanding the concept, consequences and impact of credit card fraud on the LCC
The travel industry has fast realized the negative consequences of launching a customer friendly scheme of ticket-purchase via credit cards as many big players have burnt their fingers and reputation, in trying to uphold their market image after the sudden impact of credit card fraud on the LCC has been publicized.
The management of LCCs and that of smaller travel agencies where sometimes the booking is outsourced to, as affiliate partners have been under cloud as reports of credit card fraud in the travel industry have costing the airline industry about $1.5 billion annually filter in!
Manoj Gursahani is the Chairman of India's first ecommerce travel portal- TravelMartIndia. Visit the blog for more travel related issues, travel tips and destinations
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