Visa Drops $2.4B on AI-Powered Fraud Detector BioCatch
Visa has announced its acquisition of BioCatch for $2.4 billion in cash. The Israeli company specializes in behavioral biometrics and fraud prevention using AI.
The move is a significant step towards enhancing Visa's security measures, particularly in the digital payments ecosystem.
BioCatch's technology will be integrated into Visa's cybersecurity solution to detect account takeovers, scams, and mule accounts instantly. The company has already partnered with over 30 top banks worldwide and has a presence in fintech and cryptocurrency deals.