Resorts Digital Gaming, a prominent operator in New Jersey, has taken a significant step to combat fraudulent credit card chargebacks by partnering with GeoComply, a geolocation data firm. Through GeoComply’s innovative Chargeback Integrator (GCI) tool, Resorts Digital Gaming aims to enhance security measures and improve its relationship with credit card companies. The solution utilizes geolocation data and analytics to identify the device from which a bet was placed, streamlining the process and saving valuable time and resources for the operator.
GeoComply’s Chargeback Integrator to Tackle Fraudulent Chargebacks:
Resorts Digital Gaming is set to be a trailblazer in the industry by adopting GeoComply’s Chargeback Integrator (GCI) to combat credit card chargebacks effectively. As fraudulent chargebacks have surged over the past year, the GCI solution provides a robust defense mechanism against such threats. By combining GeoComply’s geolocation data and analytics with Accertify, GCI automatically generates a Compelling Evidence Report, identifying the device responsible for placing a bet, thereby helping to prevent and mitigate fraudulent activities.
Improving Efficiency and Saving Costs:
Ed Andrewes, CEO of Resorts Digital Gaming, expresses his enthusiasm for the industry-first solution, emphasizing its potential to raise the bar against fraud. GCI offers an automated and efficient process, replacing the manual and time-consuming methods of dealing with chargebacks. By streamlining these procedures, the operator expects to save a significant amount of money while bolstering its security measures and protecting its profit margins.
GeoComply’s Pioneering Role in Ohio:
GeoComply continues to make strides in the geolocation industry and has been awarded a conditional license by the Ohio Casino Control Commission (OCCC), making it the first geolocation company in Ohio. The company’s conditional supplier’s license covers its IDComply product and geolocation services. This achievement positions GeoComply to play a crucial role in Ohio’s sports betting market, with 10 operator licenses and four supplier licenses already granted in preparation for the launch of sports betting on January 1.
The Magnitude of Card-Not-Present Fraud:
GeoComply estimates that digital card-not-present fraud will reach a staggering $130 billion in failed transactions on merchant sites. Additionally, the company highlights the challenges merchants face when disputing chargebacks, with only 18% of them finding success in their appeals. By implementing GCI, Resorts Digital Gaming hopes to fortify its defense against these financial threats and protect both its bottom line and its relationships with credit card companies.
Resorts Digital Gaming’s partnership with GeoComply and the adoption of its Chargeback Integrator (GCI) tool showcase the operator’s commitment to combatting fraudulent credit card chargebacks and protecting its revenue streams. By leveraging GeoComply’s geolocation data and analytics expertise, Resorts Digital Gaming is poised to streamline its operations, improve efficiency, and enhance security measures. As the gaming industry continues to evolve, innovative solutions like GCI become indispensable tools for operators seeking to stay ahead of the curve and safeguard their businesses against financial risks and threats.