We introduce the best Cashout for your operation

Gambling and betting operators often become high targets of fraudsters. Aware of this specific challenge they face, Trio Payments has developed layers of management technology to enhance safety and ensure better performance, especially on User Cashout.

What are the impacts of fraud on the gambling and betting industries?

Fraud impacts online gambling sites negatively. The downsides are pretty evident, and shared across all kinds of online businesses:

• Loss of revenue: Whether it’s due to spending money on chargebacks, losing bonuses, or wasting time chasing bad players, fraud is costly for operators.
• Bad reputation with payment processors: Online gambling sites are already considered high-risk by payment processors. Fail to control your chargeback rates, and you risk being banned from using their network – which would essentially sink your business, as players wouldn’t be able to make deposits using their method of choice.
• Waste of resources: Think of all the hours your team has to spend chasing fraudsters and improving processes to reduce risk, and you’ll quickly see how there’s more than monetary damages to fraud.
• Overwhelming customer support: Fraudsters wreak havoc on your transaction processes, which is often reflected in customer service complaints. The burden of solving these complaints falls on your support team, who can quickly become overwhelmed with requests.
• Compliance issues: It is no secret that regulators are cracking down on online gambling sites. Fail to spot fraud or self-excluded players, and you could face fines and legal trouble.
• Reduced customer satisfaction: Failing to solve fraud issues for legitimate players will inevitably result in them seeing your company in a less favorable light, if not leaving for a competitor in the blink of an eye.

How to keep fraud from happening: from compliance to Pix enhanced technology

One of the most important ways to stop fraud for any kind of online business is to follow good KYC (Know Your Customer) practices. This includes implementing a risk-based fraud detection software solution that helps keep in line with KYC mandates, but also addresses risks associated with the online gambling sector specifically. There is also the need to maintain fraudsters from attempting to do multiple cashouts, which will overload the system and cause temporary interruption of the cash flow. Therefore, Trio has developed a new processing layer that we'll idiscuss further in this article.

In order to be compliant and fight fraud, your operation should implement these steps, from the point of onboarding onwards:

• ID verification with government-issued documents;
• Age verification;
• PEP (Politically Exposed Persons) checks and other AML-mandated checks, including all relevant sanctions lists, watch lists, and crime lists.
• Safe and innovative payment methods available, connecting to a solution that improves conversion and stops fraud-prone users at the very start.

In Brazil the Pix system is unlike any other, ensuring that fraudsters can be easily spotted and inserted into a block listing. That's mostly because each transaction requires the exact identification of both the payer (including their bank account) and seller to take place - therefore, virtually no transaction can happen without a fair intention.

Automatic refunds for potentially fraudulent transactions are also a good investment, and this may not cost much more than your regular service.

How Trio made Cashout stable and fraud-proof

As we reach 2024, the iGaming industry generates a global revenue rate of U$92.9 billion. Ironically, the huge amount of volume is also responsible for the rise of unavailability when players are trying to cashout their resources after their betting experience.

To go deep on this matter, first we will try to explain WHY does cashout unavailability happen. It has to do with fraud and the number of ways in which nefarious individuals can exploit loopholes in their platform. It has caused many trouble for multiple merchants all over the World, especially when it comes to cases of unavailability resulting in low ratings of operators that, virtually, have no responsability for this momentary cashout error.

The main problem happen at the cashout attempting, when the consumer (mostly winners) requires payment to the same account too many times. The banking system is automatically built to see this as fraud attempting. When this happens, not only the consumer gets blocked for minutes or hours, but the entire merchant gets unable to deliver other cashout - because the system accuses a disorder, which can be interpreted by the bank as a hacker attack.

Knowing this is a serious matter for the operator's reputation as well as for users' security, Trio has developed a management layer that acts as a "couch" to cross data and prevent multiple requests from reacking the banking core when multiple requestrs happen. This revolutionary tool has delivered tremendius value to operators who say their cashout SLA rise from 30% to 85% in a matter of days.

To conclude, Trio "Cashout V2" shows the following most expressive results:

• More volume of transactions available for our clients;
• Better payout management;
• Less interruptions due to bucket filling;
• Faster and more secure cashout.

Get in touch with a specialist to know more about this innovative feature that only Trio has to offer.

By the way, have you tried our bank-to-bank Checkout?

Back to Blog