Quova joins APACS, the UK payments association

Geolocation knowledge vital to banks facing 20% rise in fraud losses

MOUNTAIN VIEW, CALIF. – May 3, 2005 – Quova, Inc., the world’s leading provider and developer of web geography services and technologies, announced today that it has joined the Association for Payment Clearing Services (APACS), the UK trade association for payments. APACS provides a forum for institutions delivering payments services to end customers to address co-operative aspects of payments and their development. It is also the main industry voice on issues such as plastic cards, card fraud, cheques, electronic payments and cash.

APACS recently reported that UK card fraud losses totaled £504.8m in 2004, up by 20% compared to 2003 (£420.4m). The association keeps its membership current on the most powerful technology tools available for fraud prevention, including Quova’s geolocation solutions.

"The APACS membership is a who’s-who of the leading banks in the UK and the world, and their highest priority is to stay ahead of fraud with solutions like Quova’s," said Gary Jackson, EVP of worldwide operations for Quova. "Our knowledge is in demand among these companies, and we’re eager to learn from them how we can best meet their needs."

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