Visa Acquires BioCatch for $2.4 Billion in Bid to Combat Rising Cyber Threats

Visa has agreed to acquire behavioral biometrics innovator BioCatch for $2.4 billion in cash, expanding its cyber and security solutions to fight fraud.

The acquisition will add to Visa's existing suite of services aimed at preventing account takeovers and money mule scams, which cost the global economy over $1 trillion annually.

BioCatch's AI-powered technology analyzes user behavior and device signals to detect potential threats in real-time. The company has grown significantly since its debut in 2014, now analyzing 18 billion user sessions per month and protecting 1.7 billion devices.

Visa plans to leverage BioCatch's expertise to develop more effective solutions for preventing cyber threats, particularly those enabled by AI. 'Account takeovers and scams cost the global economy over $1 trillion annually and AI is enabling these attacks at unprecedented scale,' said Visa President Andrew Torre.