Visa to boost cybersecurity efforts with $2.4bn BioCatch acquisition
Visa’s Andrew Torre claimed the acquisition will enable the organisation to better identify fraud before it impacts consumers at the point of payment. 4bn BioCatch acquisition
Visa is set to bolster its cybersecurity measures with a $2.4bn acquisition of Israel-based cybersecurity firm BioCatch, according to President of Value-Added Services Andrew Torre. The cash deal aims to better detect fraudulent activities before they occur at the point of payment. BioCatch, established in 2011, specializes in real-time fraud detection by analyzing various signals, such as keystroke timing, touch screen pressure, and other user behaviours to differentiate between legitimate and fraudulent users.
The acquisition will grant Visa access to BioCatch's biometrics platform, which identifies unique user traits to ensure secure transactions. BioCatch CEO Gadi Mazor emphasized the growing importance of real-time insights into customer intent, stating that their technology has proven effective in distinguishing criminals from legitimate users over the past decade.
The collaboration between BioCatch and Visa is expected to enhance their collective mission of creating a safer environment for financial transactions and protecting consumers from financial crime. The deal is subject to standard closing conditions, including regulatory approvals, and is expected to close by the end of Visa's fiscal second quarter of 2027.
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