Visa Stock Jumps on BioCatch Acquisition and Strong FIFA World Cup Spending

Visa Inc.'s stock price rose by 1.1% during mid-day trading on Tuesday, reaching as high as $371.11 before settling at $369.5950.

The company traded approximately 7.4 million shares, a decline of 7% from the average daily volume of 8 million shares.

Visa's acquisition of BioCatch for $2.4 billion is seen as a positive move to improve fraud prevention and expand its higher-growth services business.

The company reported strong payment activity surrounding the FIFA World Cup, with matchday spending rising up to 24.6% in Toronto and 12.7% in Vancouver compared to the same period last year.