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Digital goods company achieves a 30 percentage point win rate increase in reversing chargebacks just one month into new partnership
G2A, the world's largest marketplaces for digital products, today announced robust results from its partnership with Justt, a leading fintech company revolutionizing chargeback management through machine learning. G2A is a marketplace with over 20 million clients worldwide and hundreds of millions of products sold to date. It is a major force in the resale market for gaming products.
The global gaming industry continues to grow at a rapid pace. Estimates have the total video game market value increasing to $268 billion by 2025, with a compound growth rate of 12 percent. While new innovations in game design and payments integrations have made it more convenient and enjoyable than ever for gamers, loopholes in the game token transactions and in-game purchases can cause buyer's remorse and mistaken purchases, which drastically increase chargeback volume and friendly fraud.
With more than half of video gamers in the United States under the age of 34 and 20 percent of video gamers under the age of 18, the industry is uniquely vulnerable to many different types of chargeback cases. In particular, parents often file credit card disputes when their kids make unauthorized purchases without their knowledge.
G2A needed a partner they could trust to handle an ever-increasing volume of chargebacks in order to reduce their internal team's workload. They turned to Justt for the company's expertise and customized chargeback mitigation solution, capable of efficiently and profitably combating the high number of friendly fraud cases involving low-ticket items.
Justt implemented a customized chargeback mitigation solution that initially relied on payment service provider data only to be later supplemented with merchant data points for further optimization. After just one month, G2A had a 30 percentage point increase in win rate for reversing chargebacks. With their load lightened by Justt's chargeback mitigation solution, G2A's team was able to focus on its primary business goals and lean into the company's recent decision to expand into selling digital goods besides gaming products.
"Preventing illegitimate chargebacks is a crucial component of our overall risk management and anti-fraud strategies," said Stanisław Sopel, General Counsel at G2A. "For businesses like ours that handle a large volume of transactions on a daily basis, having Justt automate our chargeback mitigation efforts has been a game changer."
"The rapid growth of the gaming industry means that marketplaces, PSPs and card networks need to band together to protect merchants and sellers," said Ofir Tahor , co-founder and CEO at Justt. "We are proud to have seen such impressive results from our first month working with G2A; with our machine learning engine hard at work, the win rate is only going to go up."
About Justt
Founded in February 2020 , Justt is dedicated to helping online merchants navigate the complex and costly system for credit card disputes. The company's smart technology and in-house expertise successfully resolves chargebacks for merchants, automatically reuniting them with their revenue. Justt's proprietary AI pulls the best evidence to build merchants' most compelling defense and keeps getting smarter with time, so win rates continue to grow.
About G2A
G2A.COM is the world's largest marketplace for digital products where over 20 million people have already made their purchases. They can choose from 75,000+ digital products – video games, DLCs, in-game items, gift cards and software – offered by sellers from around the world. The platform is a part of an entire ecosystem featuring various products and services, including G2A Plus, a membership program offering discounts on the platform and other benefits.
View original content: https://www.prnewswire.com/news-releases/g2a-partners-with-justt-to-increase-chargeback-win-rate-and-streamline-organizational-complexity-301786347.html
SOURCE Justt
