The travel industry is a unique business category servicing clients from various destinations and countries. Both travelers and businesses involved with the traveling industry are thus suspectable to identity fraud and other scams originating from false personal and financial information. A total of USD 850 Million is the loss sustained by the traveling industry because of false identification information and ID-based fraud and a major chunk of that is loss is targeted towards airline business that has suffers annually USD 650 million because of identity frauds. Most traveling businesses have automated the registration process through an online booking system that even involves ID scanning. These online services introduced for ID scanning for travelers has become the target of online scammers and users with stolen identities. Only a strong and reliable Identity verification system such as Shufti can help businesses related to the Travel industry from identity fraud and cashback requests.
Variable Forms of Identity Frauds
Identity fraud in the traveling industry is of various types and not only businesses but travelers are also equally in need of identity theft protection. Travelers that prefer to use credit cards and debit cards during their traveling experience are even more in need of ID Verification for travelers. Starting from hotel check-ins to shopping for your loved ones as presents from the distant land, Identity verification solutions can come handy for a lot of travelers.
Financial information of travelers can be easily misused once they have shared it with a retailer for making an online or walk-in purchase. Stolen personal information and even authentic identity documents can be used for acquiring places to stay during a traveling experience and with stolen financial information, cash back requests become a real headache. Ride-sharing services are also at risk of being exploited by identity thieves in the absence of reliable ID verification for travelers.
What kind of Identity Verification is needed?
Most of the times, it is in the best interest of businesses attached with the traveling industry to pay a small price of identity verification services in order to safeguard themselves from larger losses originating from doctored identity documents, or even worse through stolen identity credentials.
Now there are various methods in which online identity verification can support such businesses ranging from hotels, destination resorts, airlines, ride-sharing services, and even services that connect locals with travelers for accommodation purposes. As most of the businesses already offer ID Scan for travelers so it is a more favorable option to have a digital identity verification system at place. It will create a chance for enhanced user experience with an additional advantage of never letting bookings getting blocked by users having a fake or stolen identity.
Now what kind of Identity verification services must be used depends mostly on the scope of business, online channels used by travelers during their travel experience and how do businesses engage with their probable customers over the internet.
For example, a ride-sharing service can take help with an ID Verification service and can even integrate facial recognition technology to make sure that the image present on the original identity document even matches with the person using the ride service. Hotels can use their automated ID scanning for travelers in a more efficient manner by verifying the authenticity of the provided identity documents.
ID Verification from Shufti – Perfect For Travel Industry
Shufti is the ideal KYC service provider that can safeguard the business interests of traveling industry and identity of travelers at the same time. It has a large number of Identity verification services and even AML compliance solutions that can come in handy to identify the true identity of the users, thus securing the travelers as well from getting their identity stolen. Shufti offers both onsite and offsite identity verification services allowing for both physical verification of travelers identity and even remote identity verification.
The travel industry is mostly handling customers that are not necessarily residing in the same territory as the business settlement. This is the reason for integrating an ID Verification system that can verify personal credentials provided by potential customers, enabling businesses to differentiate between real-customers and those that pose a potential risk of cashback request originating from original owners of identity or financial information. Shufti offers its ID Verification services and all other KYC related services in over 220+ countries, with language support for over 150+ languages.
With 7 days free trial available from Shufti, traveling industry can even integrate this amazing KYC service provider with their online ID scanning system to conduct a test run of ID Verification services with their reservation systems. So if you are part of the traveling industry and want to reduce losses sustained by false identities and stolen financial information, feel free to contact our sales team to get exact information how Shufti can help you in reducing business overheads.
