SAN FRANCISCO (dpa-AFX) - Visa Inc. (V) has agreed to acquire fraud detection company BioCatch for $2.4 billion in cash, expanding its cybersecurity capabilities as financial institutions face a sharp rise in AI-driven scams and account takeover fraud.
Founded in 2011, BioCatch uses behavioural biometrics to distinguish legitimate users from fraudsters in real time by analysing signals such as keystroke patterns, touchscreen interactions, and device handling.
The company serves more than 350 banking clients across 21 countries, protecting 760 million users and 1.8 billion devices. Visa said the deal will strengthen its fraud, risk, and security offerings, helping clients detect and stop suspicious activity before payments are made.
The company estimates that account takeovers and scams cost the global economy more than $1 trillion each year, with artificial intelligence making attacks increasingly sophisticated.
The acquisition also expands Visa's fast-growing value-added services business, which includes fraud prevention, cybersecurity, and analytics solutions. The transaction is subject to regulatory approvals and is expected to close by the end of Visa's fiscal second quarter in 2027.
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