- Visa (NYSE:V) has finalized its acquisition of Featurespace, a British company developing artificial intelligence payments protection technology to mitigate fraud and other financial crimes
- The acquiree protects over 500 million consumers globally
- Visa is a digital payments company enabling transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories
- Visa stock has added 21.25 per cent year-over-year and 67.68 per cent since 2019
Visa (NYSE:V) has finalized its acquisition of Featurespace, a British company developing artificial intelligence (AI) payments protection technology to mitigate fraud and other financial crimes.
Featurespace protects over 500 million consumers and over 100,000 businesses globally and processes over 100 billion payment per year, counting many of the largest banks and financial institutions as clients. Notable names include HSBC, NatWest, TSYS, Worldpay, Danske Bank, Akbank and Edenred.
The technology will be rolled out to Visa customers worldwide, enhancing business safety with leading-edge real-time detection without impinging on user experience. The Featurespace team – which will become part of Visa’s Risk and Identity Solutions business unit – is actively working with Visa to expand its fraud prevention offering.
Visa grew revenue by 64.6 per cent from US$21.8 billion in fiscal 2020 to US$35.9 billion in fiscal 2024. It substantiated this growth with an 82.4 per cent jump in net income from US$10.8 billion to US$19.7 billion over the period.
Leadership insights
“We are thrilled to welcome Featurespace to Visa. Both our companies have been at the forefront of using AI to solve longstanding challenges and pain points in the payments industry,” Antony Cahill, Visa’s president of value-added services, said in a statement. “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.”
“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,” added Dave Excell, founder of Featurespace.
About Visa
Visa is a digital payments company enabling transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories.
Visa stock (NYSE:V) is up by 1.78 per cent trading at US$315.23 per share as of 9:57 am ET. The stock has added 21.25 per cent year-over-year and 67.68 per cent since 2019.
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(Top image, generated by AI: Adobe Stock)
