Online Casino Style - News:
With the make-it-or-break-it power that
online gambling forums and message boards carry with them now a days, it
comes as no surprise that internet casino groups would prefer to stay in
the positive rather than negative with customers. It is especially
impressive, however, that one group is going to extra lengths to try to
phase out some unflattering reports that they werenít paying customers out
in a timely manner by launching a very positive initiative that will
assist in fighting credit card chargebacks.
Up to this point, the name Tej Kohli, linked to his Virtual online casino group, and chief executive officer for Grafix Softech, has been more strongly associated with their poor treatment of customers, a public relations nightmare for the firm, that has put a bad taste in their dwindling customersí palates. Their most recent news, however, is associated with fighting chargebacks and fraud, a guarding technique that will help protect his groupís operators and subsequently, the players.
According to a report by the EFY Times, Kohli announced the new product this week from his position as CEO for the Softech developers. The most recent planning to protect his online gambling sites from chargebacks will focus on the use of 3D Secure protocol, backed by the verification system for Visa and MasterCard Secure Codes. It will add yet another layer of security for card-not-present tranactions, the only kind that are typically used for online casino deposits. It will help to further guarantee that the real card holders are the only ones able using the cards at Kohliís sites.
The scheme is transparent in Kohliís attempt to get back in good favor with the gambling community, as he released a statement with the plan, saying that consumers needed to enjoy ďÖthe utmost confidence that online transactions will be processed safely and efficiently. That sense of security will bring in new sales, keep existing customers coming back and, on a concrete level, lower the chargeback fees casinos pay out.Ē
Chargebacks can result in a lot of extra costs for internet gambling companies, as they are not only responsible for processing the fake transactions and its reversal, but are also charged fees for bank transactions. Some experts claim that 3D Secure verification systems can do much to prevent the transactions in the first place, reducing fraud by as much as 80 percent. Of course, itís a cost efficient solution, as the barriers are easy to install to existing payment processing systems.
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