Visa Buys BioCatch in $2.4 Billion Deal to Tackle AI-Driven Scams

Visa is acquiring fraud detection startup BioCatch for $2.4 billion in cash to strengthen its cybersecurity offerings and combat artificial intelligence-powered scams.

The acquisition underscores how payments companies are racing to bolster their defenses as generative AI makes attacks cheaper, faster, and more convincing.

According to Visa, scams and account takeovers cost the global economy over $1 trillion annually, with the company estimating this figure will only continue to grow.

'BioCatch will help our clients stop fraud before it reaches the point of payment,' said Andrew Torre, Visa's president of value-added services.