Resorts Digital Gaming, part of the NJ online gambling market, is set to launch new technology within its casino platform. The company is the online arm of Resorts Atlantic City. Going forward, Resorts online casino will utilize the GeoComply Chargeback Integrator (GCI) that assists operators with credit card chargebacks.
More importantly, this is a first for the gaming industry as the Resorts Digital platform is the initial operator incorporating the software. Many are already well aware of GeoComply because of the geolocation equipment it uses for many NJ online casinos and sportsbooks.
The company rolled out its newest advancement earlier this year. It combines its geolocation information along with an integration that tracks chargeback representments.
Overall, GCI intends to help online gaming providers with chargeback disputes, saving them money.
Resorts Digital debuts GeoComply chargeback software
GeoComply’s newest addition to online gaming apps looks to reduce issues during disputed customer transactions. It works with Accertify, a subsidiary of American Express, to solve problems that stem from increased credit card chargebacks. The two companies shared the details via a press release.
Resorts Digital Gaming chief executive officer, Ed Andrewes, said“We are delighted to pioneer this industry-first solution and to do our bit to raise the bar ever higher against fraud.”
“Working with GCI is a positive step in the right direction and will automate what is often a too manual and time-consuming process and, of course, save us a significant amount of money,” Andrewes said.
Now, when a customer makes a dispute, GCI produces what it calls a Compelling Evidence Report. This states exactly which device the wager came from, including its location.
GeoComply believes this new technology can help operators with their success rate for chargeback disputes by up to 80%.
NJ online casino margins could benefit from this technology
According to a study conducted by Juniper Research, digital card-not-present fraud is headed for a total of $130 billion by 2023. It also mentions that just 18% of providers disputing chargebacks find success.
GeoComply director of business development, Mahmoud El Shennawy, talked about this escalating concern. He said:
“Chargebacks have grown exponentially over the past year and are eating into operators’ profit margins. GCI will boost the bottom line and improve operators’ relationships with credit card companies.”
It seems like only a matter of time until the majority of NJ online casinos begin taking advantage of this technology.