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ClearCommerce Announces GeoLocator; Software Tool Will Help Online Merchants Fight International Fraud.

First-of-Its-Kind Detection Tool Lets Merchants Screen Out Fraudsters By

Examining IP Address, Country of Origin and Shipping Information

AUSTIN, Texas, Oct. 23 /PRNewswire/ --

ClearCommerce Corporation, a provider of payment processing and fraud protection software for e-commerce, today announced the launch of ClearCommerce(R) GeoLocator, a new software tool that enables merchants to more effectively screen out fraudulent transactions. Utilizing IP address information supplied by Redwood City, Calif.-based Quova, Inc., the leading provider of geolocation services to online businesses, GeoLocator identifies the country of origin of the consumer's IP address, and based on that, allows merchants to filter orders for review if they come from countries with high rates of fraudulent Internet purchases, or if the order is being billed or shipped to a country different than the originating IP address.

Industry research has shown that fraud rates for orders with IP addresses from certain countries exceed ten percent, which is more than ten times the typical rate from U.S. orders. In addition, 21 percent of fraudulent orders can be identified by inconsistencies between the consumer's IP address and their reported billing, shipping or Card Issuer countries.

Using GeoLocator, an online merchant who wishes to reject orders placed from certain countries can create a rule such as "IF COUNTRYOFIP (order.IPAddress) IN (BlockCountries list) THEN REVIEW ORDER." On the other hand, many other foreign countries such as Japan, Germany and Switzerland have low fraud rates, and merchants can segment international orders based on their risk profile of the country of origin. Merchants can also create additional rules to review orders in which the consumer requests shipment to a different country than the one from which they placed the order.

The ClearCommerce(R) Engine, the industry's leading payment processing software, enables the merchant to combine GeoLocator checks with any other merchant rules, negative lists, neural network risk scores or external service bureau data to screen and manage potentially fraudulent orders. It provides a case management user interface that allows the merchant to review the details of the order, the payment processor response codes, and the reason the order was flagged for review. By combining multiple fraud detection technologies and integrating human review, ClearCommerce Engine enables merchants to optimally manage the cost of online fraud

"International fraud has been growing, unabated, and is now the largest category of fraud for most online merchants. The problem is so bad that many merchants are forced to reject orders being shipped to non-U.S. addresses, which is a high price to pay," said Robert Lynch, president and chief executive officer of ClearCommerce. "Shutting doors to international business does nothing to stop the increasingly sophisticated and organized fraudsters who establish a U.S. presence to receive goods. GeoLocator is an extremely valuable weapon in ClearCommerce's fraud arsenal."

"The location of a purchaser is an essential factor in detecting online credit card fraud," said Marie Alexander, president and chief executive officer of Quova. "We're seeing a real need for geolocation among online businesses, and we're very happy to be partnering with ClearCommerce to make GeoLocator a reality."

About Quova

Founded in January 2000, Quova, Inc. provides Internet infrastructure intelligence services to online businesses. Quova's first service, GeoPoint, 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 foster regulatory compliance. With over 45 industry-leading customers such as, CNET Networks and Mediaplex, Quova is the geolocation market leader. A privately owned company with investments from VeriSign, SOFTBANK Venture Capital, IDG Ventures, Nexus Group, and Fidelity Ventures, Quova's main headquarters are located in Redwood City, California, with European headquarters located in Amsterdam. The company can be reached at 303 Twin Dolphin Drive, Suite 410, Redwood City, Calif., 94065, by phone at 650.508.0700, by fax at 650.508.0147, by email at , and on the Web at /.

About ClearCommerce Corp.

Austin, Texas-based ClearCommerce is a provider of e-commerce payment processing and risk management software and services to more than 40,000 businesses worldwide, including Apple Computer, Sony, Harrods, Chase Merchant Services, and EDS. ClearCommerce provides transaction management technology directly to enterprise merchants and indirectly through Commerce Service Providers. The ClearCommerce Engine features real-time credit card processing and Internet fraud protection, as well as online reports, storefront integration, back-end integration and shipping/tax calculation. For more information, please visit .

Quova, the Quova logo and GeoPoint are service marks of Quova, Inc.

For more information, please contact:

Alison McMillon, Media Relations

Springbok Cohn & Wolfe

Tel: (972) 480-9458, ext. 185

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Publication:PR Newswire
Geographic Code:1USA
Date:Oct 23, 2001
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