Quova Breaks New Ground Against Online Fraud
GeoPoint to Support VeriSign’s Fraud Protection Services Offering
MOUNTAIN VIEW, CALIF. – October 14, 2003 – Quova, Inc., the world’s leading provider and developer of Web geography services and technologies, announced today that its GeoPoint service will help support VeriSign’s Fraud Protection Services offering protecting online merchants against Internet fraud. According to analyst estimates, merchants are projected to lose more than $1 billion to online fraud this year – and Quova’s geolocation technology is engaged in helping merchants protect their transactions against these ever-increasing fraud rates.
“Our VeriSign Fraud Protection Services provide multiple filters to determine the risk level of a transaction, including helping to identify the location of the customer,” said Trevor Healy, vice president of VeriSign’s Payment Services. “Quova’s geolocation solution is a helpful tool for us as we determine where potentially fraudulent transactions are coming from around the globe.”
“VeriSign is well-known for providing excellent and innovative security solutions that support e-commerce and Internet infrastructure security,” said Marie Alexander, President and CEO of Quova, Inc. “We’re pleased to be able to work with them in making Internet commerce safer for merchants and consumers.”
Quova’s GeoPoint is an enterprise-class geolocation solution that instantly and accurately determines the real-world location of a web site visitor, from country level down to zip code, by mapping the 1.4 billion IP addresses on the Internet using proprietary algorithms, a worldwide network of servers and staff-performed hand mapping.
About VeriSign
VeriSign, Inc. (Nasdaq: VRSN), delivers critical infrastructure services that make the Internet and telecommunications networks more intelligent, reliable and secure. Every day VeriSign helps thousands of businesses and millions of consumers connect, communicate, and transact with confidence. Additional news and information about the company is available at http://www.verisign.com.
About Quova
Founded in January 2000, Quova, Inc. is the leading provider of geolocation services to online businesses. Quova`s GeoPoint service provides the geographic location of Web site visitors in real-time, enabling businesses to manage digital rights, target content, detect fraud, conduct site analysis and ensure regulatory compliance. Quova’s customers and partners include industry leaders such as Major League Baseball Advanced Media, The Absolut Company, 24/7 Real Media, Times Online and Sky Sports. A privately owned company with investments from Mobius Venture Capital, IDG Ventures, Nexus Group, Schoffstall Ventures, Fidelity Ventures and VeriSign. Quova`s main headquarters are located at 333 West Evelyn Avenue, Mountain View, California 94041, with European headquarters in Amsterdam, The Netherlands. Quova can be reached at 650/528-3700 and on the Web at www.quova.com.
Quova, the Quova logo and GeoPoint are registered service marks and/or trademarks of Quova, Inc.
CONTAC:
Mike Gaynes
Quova, Inc.
650.528.3700
mgaynes@quova.com
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