Prevention of Credit Card Fraud for Global E-Commerce Transactions

LexisNexis RiskWise, a leading information solutions provider, and Quova, a leading provider of Web geography services and technologies, today announced an alliance to help e-commerce merchants fight global credit card fraud, which industry experts project to reach $60 billion by the end of 2005. LexisNexis® RiskWise® detects high-risk credit card transactions with advanced identity and address verification. Quova develops geolocation technologies that determine the physical location of a Web site visitor in real time.

"International e-commerce fraud is growing exponentially," said Tom Brown, Vice President for Credit Solutions, LexisNexis Risk Management business unit. "We are excited to align with Quova to offer our customers the ability to verify the identity and location of their online consumers. This will help our customers fight fraud, protect their businesses and better serve their legitimate customers."

The LexisNexis RiskWise product line validates and verifies both billing and shipping addresses in card-not-present transactions. LexisNexis RiskWise products also calculate a unique fraud verification score that quantifies the risk level of each transaction. Quova's GeoPoint service provides real-time identification of the website visitor's geographic location, from country level down to city-level precision if required.

"We are tremendously pleased to have the opportunity to work with LexisNexis on such an important initiative," said Marie Alexander, president and CEO of Quova. "We believe that together we are building a new standard of fraud protection for every merchant and financial services enterprise doing business on the Internet. Working with LexisNexis, we look forward to establishing a new mainstream solution for online fraud prevention."

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