Visa is set to acquire Featurespace, a company incubated at Cambridge University, known for its AI-driven solutions that analyze transaction data to detect fraud. This acquisition aims to improve Visa’s existing fraud detection and risk-scoring services, offering substantial benefits to financial institutions, consumers, and the payments industry.
Antony Cahill, Visa’s Global Head of Value-added Services, highlighted the importance of evolving solutions to address the changing threat landscape. Featurespace’s AI expertise will bolster Visa’s product offerings, allowing real-time fraud management and increased protection for the payment ecosystem.
This move reflects Visa’s ongoing commitment to security and is expected to be completed in fiscal year 2025. The announcement follows Mastercard’s recent acquisition of Recorded Future for $2.6 billion.
Read more – Visa to Acquire Fraud Protection Firm Featurespace
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