Online gambling is a booming industry, and Resorts Casino is doing everything in its power to stay ahead of the competition. The casino has announced that it will be launching new technology within its online platform. This technology, called GeoComply Chargeback Integrator (GCI), is a solution that aims to help casino operators with credit card chargebacks.
This is an important development for the casino industry as a whole. Operators need to be able to protect their businesses from chargebacks, and GCI will help them do just that. Resorts Casino is the first casino to adopt this new technology, and we can expect other casinos to follow suit soon.
Being in one of the 6 six states in the country to have regulated online casinos may be a blessing yet a great challenge for casinos as the competition is high and they have to work double time to maximize the potential of the market.
This is why the online unit of Resorts Atlantic City is continuing to look for technological advancements and be a distinguished platform in the New Jersey online gambling industry. The adoption of GCI technology in the Resorts Online Casino platform makes it the first ever to do it in the market.
With its new technology from GeoComply, the casino will be able to track chargeback transactions which will be complemented by the geolocation information. These features will assist the online gambling platform to settle chargeback disputes favorably and save funds.
In a press release, Ed Andrewes, CEO of Resorts Digital Gaming, stated:
“We are delighted to pioneer this industry-first solution and to do our bit to raise the bar ever higher against fraud.”
He added that working with GCI is a favorable step in their journey as it “will automate what is often a too manual and time-consuming process” while saving them a significant amount of money.
CGI provides a Compelling Evidence Report in the case when a customer initiates a dispute. The reports will include where the wager was initiated and which device was used.
While US online casinos already had numerous developments since it becomes legalized, technological advancements may also create problems in the industry just like the digital card-not-present fraud. This led to further actions to ensure that the gambling market is safe against the proliferation of unsound practices.
Based on the results of a study by Juniper Research firm, real money gambling operators only have an 18% chance of winning chargeback disputes and the digital card-not-present fraud is expected to breach the $130 million mark in 2023.
Mahmoud El Shennawy, Business Development Director of GeoComply, addressed the issue and 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.”
This makes GeoComply’s GCI a more valuable solution for casino operators as the company believes that with their latest development, casino operators’ chances in chargeback disputes will be boosted to 80%.