The cryptocurrency payment solution UTRUST has integrated Dash Payments and opens Dash Payments for partner Whow Games, an online social gaming platform that offers instant transactions, buyer protection and crypto-to-cash billing for consumers who are risk-free want to participate in online games chargebacks.
[tweet https://twitter.com/RobertWiecko/status/1178285541592354817 align=’right’] Whow Games is the first UTRUST retailer to introduce Dash for purchases and payments in cryptocurrency and will make this option available to its 9 million registered users. Whow Games offers Jackpot.de and merkur24.com among its numerous game selection and offers players the opportunity to collect “virtual chips” online free of charge. Payments, especially for online games:
“We are excited to expand our ever growing dealer portfolio by integrating cryptocurrency payments for Whow Games and their 9 million registered users. As an industry, online social gaming usually suffers from an above-average chargeback rate for credit card purchases. Through this partnership, we have the ability to directly address chargebacks – a long-standing scourge in the payments industry – with crypto payments. The integration of DASH, a highly efficient and user-friendly currency, as a payment option for all UTRUST dealers and their customers is an extremely positive milestone for us. “
Jan Heinrich Meyer, CEO of Dash Embassy, also discussed the benefits Dash will bring to Whow Games and UTRUST.
“It is great to see that UTRUST recognizes DASH as an important cryptocurrency and integrates us on their platform. With a transaction speed of one second and over 15,000 transactions per day, Dash offers a global and highly efficient service. Our goal of advancing the adoption of cryptocurrency payments and promoting the future of digital assets fits perfectly with UTRUST’s own mission, so we are excited to partner with the platform and unite on our common goals. “
Dash efficiently solves the billion dollar chargeback problem
The Dash integration in UTRUST provides a critical solution to problems faced by platforms like Whow Games. Online games suffer from high chargebacks where a user purchases a service with a credit card but then questions that charge as unlawful. Big credit card companies will then force the lost money on smaller merchants, costing merchants around the world $ 28 billion in 2017 and expected to increase in the future. Cryptocurrency helps mitigate this problem by ensuring that the merchant cannot have canceled any processed transactions once the good / service has been provided, as transactions, once placed in a block, are largely viewed as permanent. Additionally, chargebacks are only an option because credit card thefts are so common that credit card companies need to provide a correction method for consumers whose card information has been stolen and used to make improper purchases. However, the cryptocurrency is based on private keys that a merchant or service never accesses. This makes the theft of personal data and funds much more difficult and thus reduces the need for a transactional dispute resolution system from the outset.
Dash addresses this problem better than most other cryptocurrencies by instantly locking transactions in less than two seconds, reducing traditional transaction times of several minutes or more. In addition, Dash’s blockchain is secure against 51% attacks due to the recently implemented ChainLocks, an attack vector that can question the security of other cryptocurrencies even after receiving confirmations in the chain.
Dash is actively targeting the gaming industry
Integrations like UTRUST and Whow Games align with the broader Dash strategy to target high chargeback industries like online gaming. Dash Core Group recognizes the benefits Dash can bring to companies in the gaming industry and also sees this as an opportunity for greater adoption and has therefore included it in their rollout strategy. Dash has already been taken over by HeroSphere, an online gaming and esports betting platform, thanks to Dash Embassy DACH. Dash has also been integrated into Aircoins, an AR app similar to Pokemon Go, and the Dash.Red gaming platform. To reach a wider mainstream audience, Dash previously partnered with FanDuel to enable individuals to win Dash based on fantasy football scores. Combining these platforms with integration and partnership with Dash helps merchants save money that is passed on to consumers, but also make payment methods easier for consumers.