Visa To Acquire Fraud Prevention Firm BioCatch
The acquisition adds AI-powered behavioral fraud detection as Visa seeks to counter account takeovers, scams and money-mule activity across its payments network.
- On Monday, Visa announced a definitive agreement to acquire BioCatch, a fraud intelligence provider, for $2.4 billion in cash from investment firm Permira and other shareholders.
- Andrew Torre, president of value-added services at Visa, cited rising fraud threats as a driver, noting account takeovers and scams cost the global economy over $1 trillion annually.
- BioCatch protects 1.8 billion devices and 760 million users globally by analyzing behavioral patterns such as keystrokes and touch gestures to distinguish legitimate users from fraudsters in real time.
- CEO Gadi Mazor stated the company will retain its management team and reporting structure while operating as part of Visa, continuing to serve 350 banking clients with existing technologies.
- The transaction is subject to customary regulatory approvals and is expected to close by the end of Visa's fiscal second quarter of 2027, representing one of the largest deals in the Israeli tech sector.
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(Seoul = Yonhap News) Reporter Seol Won-tae = Visa acquires Israel-based financial fraud prevention startup BioCatch for $2.4 billion (approximately 3.43 trillion won) in cash...
Visa is buying BioCatch for $2.4 billion because AI scams now cost the global economy $1 trillion a year
Visa is acquiring Tel Aviv-based fraud detection startup BioCatch for $2.4 billion in cash from private equity firm Permira and other investors. BioCatch’s platform analyses keystroke timing, touchscreen pressure, swipe patterns, and device handling to distinguish real users from scammers and bots. The company currently protects 760 million users across roughly 350 banks. Visa processes […] This story continues at The Next Web
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Visa Agrees to Acquire AI Fraud-Detection Firm BioCatch for $2.4 Billion
Visa plans to purchase BioCatch in a $2.4 billion cash transaction that would expand the payment company’s cybersecurity services and strengthen its ability to detect ... The post Visa Agrees to Acquire AI Fraud-Detection Firm BioCatch for $2.4 Billion first appeared on [your]NEWS.
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