Getting your
Trinity Audioplayer ready...By Paige Smith, Bloomberg Visa Inc. struck a deal to buy BioCatch, which uses artificial intelligence to detect fraud, for $2.4 billion in cash.
The company is purchasing BioCatch from funds advised by Permira and other shareholders, and the transaction is expected to close in the fiscal second quarter of 2027, according to a statement Monday. BioCatch works with more than 350 banking clients across the world.
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“Account takeovers and scams cost the global economy over $1 trillion annually and AI is enabling these attacks at unprecedented scale,” Andrew Torre, Visa’s president of value-added services, said in the statement. “BioCatch will help our clients stop fraud before it reaches the point of payment.”
As the largest payment network in the world, Visa invests heavily in anti-fraud tools and other value-added services to help both consumers and businesses safely transact. San Francisco-based Visa reported earnings last week that beat estimates and slightly raised its full-year revenue growth outlook after announcing it would cut roughly 2,600 jobs.
BioCatch uses AI and machine learning to analyze consumer patterns like keystrokes and touch gestures to discern legitimate from fraudulent users, according to the statement. Permira acquired a majority stake in the Tel Aviv-based company in 2024.
“Real-time insights into customer intent continue to grow increasingly essential for institutions to establish trust within digital banking sessions,” BioCatch Chief Executive Officer Gadi Mazor said in the statement.
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