Reducing payment transaction times and increasing efficiency is possible with AI
It is no longer a secret that the iGaming industry is taking innovative artificial intelligence (AI)-based technology by storm. Its vast advantages have given gaming operators greater control and management in many different areas, including when it comes to payments.
The incorporation of technological tools and changes in the expectations of the users of these types of platforms has changed payment services. Today, thanks to AI, it is possible to make digital payments through credit or debit cards, transfers, platforms, payment gateways, or QR codes. AI has the ability to analyze in real-time the player’s payment data.
By studying the amount, transaction history, time, geographic location, type of transaction and IP address, it identifies the user’s consumption patterns. It determines whether he or she is following a usual payment habit, to evaluate the transaction and identify security risks in the operation.
Through this, AI-based systems have helped stop fraudulent payments, benefiting consumers and favoring gaming operators. For users, it has meant a safer payment experience, and for online casinos, it has guaranteed the approval of real transactions without incurring risks.
Another area that makes payment handling smarter is the reduction of chargeback. In response to the high volume of chargebacks, the world of online payments is undergoing a transformation thanks to AI that works by analyzing chargeback cases with the intention of reducing this problem, caused in most cases by unauthorized transactions by both third parties and online merchants themselves.
In any case, there is no need to be afraid of taking advantage of the benefits of AI in the payment sector, as there are many of them and they have enormous future potential. It is not in vain that it is already considered one of the biggest revolutions in the iGaming industry.