10 February 2005

Why geolocation?

Quova has their act together when it comes to compliance and security issues for e-commerce.

The idea of the Internet as a borderless business realm, free of "real world" rules, has been exposed as a myth. While any company of any size can deploy an economic presence online, true e-commerce success has turned out to be a function of —and dependent on —the same business principles that determine success in the brick-and-mortar world. And one of those principles is geographic knowledge. Geolocation — knowing where the online customer is coming from — is as vital to e-commerce as the location of a store is to offline business operations. Consumers have distinct regional preferences based on where they live, and the online merchant must tailor his products, marketing strategy and messaging content to the customer’s language, currency and cultural priorities to earn his business — and his loyalty. Fraud is significantly higher in cyberspace, and the originating location of the transaction is a key indicator to its fraud risk. And both regulations and digital rights vary by jurisdiction, so the business-critical issue of compliance is heavily dependent on the geographic knowledge that can only be provided by a best-practice geolocation solution.

The knowledge that online fraud is frequently a geographically—based phenomenon, with 60% of fraudulent transactions emanating from just 15 nations, has provided a focal point for combating the problem. Leading companies in a variety of industries have incorporated Quova's GeoPoint as a key element in a "best practices" security solution for online fraud prevention. Quova has leveraged this experience to develop new sources of information and enhanced data analysis services specifically designed to protect against fraud and preserve assets and revenues. See Quova

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