‘Best Use of Credit Technology’ Award Goes To Addison Lee
Addison Lee, Europe’s leading private vehicle hire company, been awarded ‘Best use of Credit Technology’ at the 2017 CICM British Credit Awards. The award was in recognition of the implementation of Cybersource solutions for credit card transactions and fraud detection.
As Addison Lee’s software development partner, Haulmont was instrumental in deploying Cybersource to Addison Lee’s Shamrock system. Now, when credit card security rules are broken, an issue is flagged for the card to be manually checked. Only after this process has been completed can money be withdrawn from the client’s account. Previously, money was taken out of the account immediately and if the transaction turned out to be fraudulent, the company would have to refund the money and take a loss.
The Cybersource initiative, combined with an internal team restructure from Fraud to Revenue Protection has helped to reduce Addison Lee’s refund expenses and limit fraud. Addison Lee’s refund expenses are now 14 times less than before the introduction of this system.