Visa has finalized its acquisition of Featurespace, a leading provider of real-time artificial intelligence (AI) technology for payment protection. This strategic acquisition strengthens Visa’s ability to prevent and address payment fraud and financial crime, offering enhanced security solutions for clients and consumers worldwide.
With Featurespace’s advanced technology integrated into Visa’s existing suite of fraud prevention tools, the company aims to offer an expanded range of risk-scoring and fraud protection services. The collaboration between the two companies will enable Visa to deliver real-time detection of sophisticated fraud attacks while ensuring a smooth user experience.
Antony Cahill, President of Value-Added Services at Visa, expressed excitement about the acquisition, stating, “We are thrilled to welcome Featurespace to Visa. Both our companies have been at the forefront of using AI to solve longstanding challenges in the payments industry. Together, we will offer a valuable combination of cutting-edge technology and industry expertise to help our clients continue to grow amidst an increasingly complex threat landscape.”
In the coming months, Featurespace’s product portfolio will be fully integrated into Visa’s offerings, expanding the scope of fraud prevention solutions available to Visa’s clients. This collaboration will enhance security by addressing a wide range of use cases, combining the expertise of both companies in modeling methodologies and advanced tools. Visa aims to set a new benchmark in fraud prevention with this strengthened capability.
Dave Excell, Founder of Featurespace, commented, “We developed our innovations to help crack even the most complex fraud cases. As part of Visa, we will be able to set a new standard in AI-powered fraud prevention and integrate our solutions into a series of products and services that will help make the world a safer place to transact.”
