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Visa acquires BioCatch for $2.4 billion to combat fraud
Payment giant Visa has agreed to acquire AI-powered cybersecurity firm BioCatch for $2.4 billion in cash. The acquisition will significantly strengthen Visa's fraud prevention and risk management capabilities.
Visa, the payments giant, announced it will acquire BioCatch, a company specialized in AI-based fraud detection. The transaction will take place for $2.4 billion in cash.
In its announcement, Visa emphasized that the acquisition will complement the company's existing cybersecurity, fraud prevention and risk management solutions. BioCatch's technology aims to better protect Visa customers and their end users against threats such as account takeover attacks, fraud attempts, money mule accounts and fake application fraud.
The statement noted that with the BioCatch acquisition, Visa's capacity to offer AI-powered solutions to detect and prevent fraud, cybercrime and financial crime across the entire process, from account opening to transaction authorization, will increase.
Visa recalled that it has invested more than $13 billion in technology and infrastructure over the past five years to secure the payments ecosystem and reduce fraud rates. The acquisition is expected to be completed by the end of the second quarter of fiscal year 2027.
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