Resorts Digital to Introduce the Chargeback Technology of GeoComply
The integration of GeoComply‘s anti-fraud technology by Resorts Digital Gaming is almost finished, which will help Resorts reduce the problems brought on by credit card chargebacks.
As a result of the collaboration, Resorts will introduce the GeoComply Chargeback Integrator (GCI), a geolocation and anti-fraud tool developed by Vancouver-based GeoComply. The alliance is being formed as the gaming market struggles to come up with ways to respond to credit card chargebacks more quickly.
Credit card chargebacks often happen when a client rejects a transaction and gets their money back. The need for automating the chargeback process has expanded rapidly as casinos and sportsbooks gradually migrate to digital payment processing.
The CEO of Resorts Digital, Ed Andrewes, expressed his company’s joy in developing this first-in-the-industry solution and contributing to the fight against fraud. He said that working with GCI is a step on the right way because it will automate a process that is frequently overly laborious and time-consuming and, naturally, save the business a lot of money
According to GeoComply, the system combines compliance-grade geolocation data with a direct interface for chargeback filings made through the Accertify website.
The GCI technology will automatically generate a statement that GeoComply classifies as a compelling evidence report each time a player attempts a transaction. The report provides the ability to identify the precise betting tool and the precise location where the bet was made. In terms of sports betting, GeoComply’s geolocation volumes increased 71.5% to 103.1 million checks on the first weekend of the NFL season from 60.1 million checks during the same week in 2021.
In a hypothetical scenario, a player from New Jersey may encounter a breach that affects his digital wallet when they are in Atlantic City. A hack, which is carried out by a cybercriminal, may take place in a city hundreds of miles away. It appears that the technology may be used as a tool to speed up the chargeback procedure if the client attempts to dispute a fraudulent transaction from their e-wallet.