Visa beefs up cybersecurity offerings with $2.4 billion BioCatch deal

Aug 3 : Visa said on Monday it would buy fraud intelligence provider BioCatch for $2.4 billion in cash from investment firm Permira and other investors, marking the card giant's latest effort to beef up its cybersecurity offerings.The deal would help the world's largest payment processor further bolster its existing cyber, fraud, risk and security offerings and enable it to help clients better protect themselves in an increasingly complex threat environment, Visa said."Account takeovers and scams cost the global economy over $1 trillion annually and AI is enabling these attacks at unprecedented scale. BioCatch will help our clients stop fraud before it reaches the point of payment," said Andrew Torre, president of value-added services at Visa.Founded in 2011, BioCatch helps detect fraud an