Traveloka Won “Excellence in Sophisticated Risk Management Merchant Award” in Visa Security Summit 2019

Traveloka, Indonesia’s leading travel booking app for domestic and international destinations, was awarded as the winner of “Excellence in Sophisticated Risk Management Merchant Award” from Visa Asia Pacific. This prestigious award was received on 20 June 2019 in Visa Security Summit 2019 that held in Shanghai, China.

Traveloka is the first merchant and became the only AsiaPacific Merchant who received the “Excellence in Sophisticated Risk Management Merchant Award.” The award recognizes Traveloka for excellence in payment system risk management and supporting Visa’s efforts to maintain trust and security in the payments industry in the Asia Pacific. Traveloka is working closely with payment partners to offer secure and seamless transactions on our platform. As we continue expanding our presence in more countries, we are also looking forward to building a much more exciting partnership in countries that we are operating in. In this occasion, Budi Waskita, Product Manager of Risk, Traveloka represented Traveloka to shared about Traveloka payment security and also gave a salute to the existing partners that already working together and put trust in us. Currently, Traveloka provides more than 40 payment options for customers in Indonesia, Thailand, Vietnam, Malaysia, Singapore, the Philippines, and Australia.

Budi Waskita, Product Manager of Risk, Traveloka said, “This "Excellence in Sophisticated Risk Management Merchant Award" is a testament of our commitment to creating a secure and seamless payment experience for our customers. Traveloka Risk Team works relentlessly to identify the newest fraud trends and develop our capabilities to combat the ever-evolving threats on our platform. We would like to take this chance to recognize and thank the efforts of our Risk Team and business partners for the wonderful recognition and trust toward Traveloka.”

Stefani Herlie, Senior VP Payment of Traveloka also explained, “We are on a mission to offer the best payment experience for our users. We believe that secure transaction and frictionless payment experience should go hand in hand and we should maintain a good balance between having a low fraud rate, and low reject rate. So, our approach to payment security is to establish Traveloka Risk Team as a dedicated function within the organization, implement risk-based authentication and to have a continuous feedback loop. This is how we maintain a balance between payment security and the customer experience in Traveloka.”

However, the security of the transactions is also the responsibility of Traveloka’s users. Therefore, on every occasion, Traveloka always encourages our users to always maintain security in transactions, one of the ways is not to share identities such as user names, passwords, and OTP codes to others.

The Asia Pacific Visa Security Summit is Visa’s largest payment security event in the region. This year marks the 15th edition of the annual event and some 800 attendees are participating including financial institution and merchant partners, law enforcement officials and regulators. The Summit will be exploring developments in the cybersecurity landscape and significant enhancements to Visa’s Payment Fraud Disruption capabilities.