Visa has struck a US$2.4 billion deal to acquire behavioural fraud intelligence provider BioCatch.
The payments company will buy BioCatch from funds advised by Permira and other shareholders under a definitive agreement.
BioCatch uses AI and machine learning to analyse application, behavioural, device and network signals in real time.
Its technology helps detect account takeovers, scams, money mule activity and application fraud.
The company protects 1.8 billion devices and 760 million users globally. It serves more than 350 banks across 21 countries, including over 100 of the world’s largest banks.
The acquisition will add BioCatch’s technology to Visa’s existing cyber, fraud, risk and security capabilities.
“Account takeovers and scams cost the global economy over $1 trillion annually and AI is enabling these attacks at unprecedented scale.
BioCatch will help our clients stop fraud before it reaches the point of payment. This acquisition is part of our strategy to help clients prevent cyber threats upstream, building trust into every transaction.”
said Andrew Torre, President of Value-Added Services at Visa.
“In the last couple of years, we’ve shown how real-time intelligence-sharing networks between our customers can amplify the power of our behavioral intelligence further still.
Together with Visa, we’re even better positioned to advance our mission of making the world a safer place to transact and protect consumers from financial crime.”
said Gadi Mazor, CEO, BioCatch.
Visa has invested more than US$13 billion in technology and infrastructure over the past five years.
The transaction is subject to regulatory approvals and other customary closing conditions.
Visa expects the acquisition to close by the end of its fiscal second quarter of 2027
Featured image: Edited by Fintech News Singapore, based on image by halalstock via Magnific
