CNBC·3 min read·medium
Visa to buy fraud-detection firm BioCatch for $2.4 billion
H
Hugh Son
✦AI Summary
Visa is acquiring fraud-detection startup BioCatch for $2.4 billion to bolster its cybersecurity capabilities against AI-driven financial scams. The deal aims to integrate behavioral biometrics into Visa's global payment network to prevent fraud before transactions occur.
Visa on Monday said it is acquiring fraud detection startup BioCatch for $2.4 billion in cash, expanding the payment giant's push into cybersecurity as banks confront a surge in artificial intelligence-powered scams and account takeovers.
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