GeoComply and Accertify will “resolve expensive chargeback issues”

GeoComply and Accertify will “resolve expensive chargeback issues”

GeoComply has formed a partnership with Accertify, which is a subsidiary of American Express, in order to launch a Chargeback Integrator System. The purpose of this system is to assist online casino and sports betting operators in “solving expensive chargeback disputes, notably favorable fraud chargebacks.

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GeoComply

Providing Assistance to Automation of the System

The all-in-one solution integrates the geolocation data provided by GeoComply with the chargeback management system provided by Accertify to provide assistance with the automation of chargebacks and a decrease in the number of chargebacks. 

According to a provider of fraud prevention and cybersecurity solutions, one of the key potentials of a flourishing global gaming sector is the possibility of an increase in first party misuse. 

In this scenario, customers make a transaction or place a bet, but then dispute the charge as fraudulent after the fact. In addition to this, it is said that this issue has evolved into “a expensive and dangerous problem for operators who do not have proper instruments in place to avoid it. 

The organization projects that by the year 2023, first party abuse and friendly fraud alone would amount to $130 billion throughout the globe. However, at the moment, just 18 percent of merchants that fight chargebacks are successful.

Press Release Statements

According to Anna Sainsbury, Co-Founder and CEO of GeoComply, online gaming operators experience significant revenue loss due to friendly fraud on an annual basis. 

This is a growing issue driven by the continuing growth of ecommerce. By partnering with Accertify, the company can now provide operators with the evidence they need to successfully defend against chargeback disputes, and they can automate the entire process.

Mark Michelon, President of Accertify, highlighted that GeoComply’s superior geolocation technology coupled with their extensive industry understanding with casino operators makes them the ideal partner to assist automate and decrease chargebacks. 

This one-of-a-kind solution is revolutionary, and the fact that it was developed in partnership with other companies will have a beneficial effect on gaming operators.

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About Lou De Aguila

Lou Ramon Aguila is a contributor for Golden Casino News. He has a degree in BSBA Legal Management with great interest in high-profile legal cases involving sports personalities. An ultimate sports junkie, he covers just about everything in the sporting world with an emphasis on the NBA, NFL, and MLB. In his past time, Lou loves to read manga, watch anime and critique pro-wrestling matches.