Resorts Digital Gaming is to become the maiden operator to launch the GeoComply Chargeback Integrator in a bid to “deal with the escalating problem of credit card chargebacks”.
When a customer disputes a transaction, GCI will automatically produce a Compelling Evidence Report that will aim to pinpoint exactly which device placed the bet and from where. GeoComply’s research has suggested that GCI will help operators boost their chargeback dispute success rate by up to 80 per cent.
Ed Andrewes, Resorts Digital Gaming chief executive officer, commented: “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.”
Earlier this year, the geolocation and anti-fraud specialist rolled-out GCI, which combines GeoComply’s compliance-grade geolocation data and analytics with a direct integration to submit and follow chargeback representments via Accertify’s portal into the merchant acquirers and payment networks.
It is estimated that digital card-not-present fraud will amount to $130bn by 2023, with only 18 per cent of merchants that dispute such chargebacks being successful, according to Juniper Research and Markets Insider.
El Shennawy, GeoComply director of business development Mahmoud, added: “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.”
Last month, the opening weekend of the NFL season was labelled as “an unbelievable start” after the company’s geolocation volumes surged 71.5 per cent from 60.1m in 2021 to a record 103.1m.