| Posted by: CasinoNow at November 10, 2000, 4:37 pm | | Topic: Chargeback article on front page... Forum: Winner Online |
Yes, I think that 8% of transactions sounds much higher than the typical average. I deal with alot of different transaction processing companies on a regular basis. I have found the average for online transactions is usually 4%. For online casinos the average is a little higher, usually 4 to 4.5% for larger operations, and up to around 6% for small operations that do not bring in high olumes of business.
I'm not sure how the PINs for Cryptologic could affect charge backs either (BTW, their ersion 4.0 software has alot of grat features, such as VOI for customer support). In fact, it seems to me that there is ery little that can be done by anyone other than having a ery resourceful negative card database. Casinos that use smaller, less popular transaction processing companies will typically have a much smaller negative card listing, which does open them up to a higher olume of charge backs, but I see little protective measures in place other than this.
Jerry Garner
CasinoNow Gaming Resource Center
http://www.casinonow.net
Quote: Originally Posted by The Original Mary:
The 8% cut out of deposits up front from credit card processors is outrageous, especially after reading so many accounts of processing screwups on this board. Plus their fraud protections must be pretty bad if there's a 25% rate of chargebacks.
I remember reading that Cryptologic has only a 3% rate of chargebacks, which is comparable to the Vegas land casino rate of 4% defaults on markers. Cryptologic, as we all will recall, sends out a PIN by snail mail. I don't see how that changes a chargeback percentage (as opposed to out and out account theft), but they sure have nice numbers.
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