Visa to Spend $2.4 Billion on AI-Powered Fraud Prevention Firm
Visa Inc. has agreed to purchase BioCatch for $2.4 billion in cash, according to a statement on Bloomberg Terminal Monday.
The financial services company is buying BioCatch from funds advised by Permira and other shareholders, with the transaction expected to close in the fiscal second quarter of 2027.
BioCatch uses artificial intelligence to detect fraud and works with over 350 banking clients across the world.