Nearly 70 percent of travel buyers say their business travelers have been affected by a payment-related data breach from an outside vendor such as an airline, hotel or retailer in the past year, according to new research from the Global Business Travel Association (GBTA).
The research also reveals that travel buyers believe the risk of fraud is growing, with two-thirds (68 percent) saying travel programs face a greater risk of fraud today than they did two to three years ago.
More key findings include:
- 70 percent of companies learned about their data being breached through vendors, 49 percent through news report and 31 percent were notified by payment providers.
- 58 percent responded by alerting employees, 44 canceled and reissued cards and 37 percent monitored corporate card statements.
- Only 62 percent of travel programs provide travelers with data security tips.
Payment types viewed as effective against fraud:
- 79 percent say single use virtual card.
- 69 percent say a central travel account.
- 67 percent say a corporate credit card.