Visa Completes Acquisition of Featurespace

Visa (NYSE: V) has successfully completed its acquisition of Featurespace, a leading developer of real-time artificial intelligence (AI) technology designed to prevent and mitigate payments fraud and financial crime risks.

This acquisition strengthens Visa’s fraud protection capabilities, further enhancing security for customers and consumers worldwide.

As part of the deal, Visa will integrate Featurespace’s AI-powered fraud detection technology into its existing suite of fraud prevention and risk-scoring solutions. By combining their complementary products and tools, the two companies aim to provide businesses with enhanced fraud protection, including real-time detection of sophisticated fraud attacks, all while ensuring a seamless user experience without adding friction.

Antony Cahill, President of Value-Added Services at Visa, said:
“We are excited to welcome Featurespace to Visa. Both companies have been pioneers in using AI to address longstanding challenges in the payments industry. Together, we’ll offer a powerful blend of advanced technology and industry expertise, helping our clients navigate an increasingly complex threat landscape.”

Over the coming months, Featurespace’s product portfolio will be integrated into Visa’s existing offerings, expanding the range of fraud prevention solutions available and creating new use cases. The collaboration will combine the expertise, modelling techniques, and tools from both teams to enhance the joint fraud prevention services.

Dave Excell, Founder of Featurespace, commented:
“We developed our innovations to tackle even the most complex fraud cases. Now, as part of Visa, we have the opportunity to set a new benchmark in AI-driven fraud prevention, integrating our solutions into a wide range of products and services to make global transactions safer.”

The Featurespace business will be incorporated into Visa’s Risk and Identity Solutions unit.