Visa has completed its acquisition of Featurespace, a company specializing in real-time artificial intelligence technology for payment protection.
Expected to strengthen through acquisition visaStrengthen security for your customers around the world with our anti-fraud capabilities.
Featurespace’s advanced fraud detection and risk scoring capabilities will be integrated into Visa’s existing portfolio of fraud prevention solutions.
This integration enables the detection of advanced fraud attacks in real-time while maintaining a seamless user experience.
By combining our expertise and tools, Visa aims to expand fraud prevention use cases and strengthen the security of global payment systems.
In the coming months, Featurespace’s product suite will become part of Visa’s Risk and Identity Solutions business unit.
The partnership leverages the combined knowledge, methodologies and tools of both companies to deliver enhanced fraud prevention services to businesses and consumers.
Featurespace’s technology supports over 100,000 businesses including HSBC, NatWest, TSYS, Worldpay, Danske Bank, Akbank and Edenred.
The company helps protect 500 million consumers around the world and processes more than 100 billion payment events annually.
Founded in 2008, the Cambridge, UK-based company has a team of over 400 members and operates from six locations.
Anthony Cahill, President of Value-Added Services at Visa, said:
“We are excited to welcome Featurespace to Visa. Both companies have been at the forefront of leveraging AI to solve long-standing challenges and pain points in the payments industry.
Together, we will provide a valuable combination of cutting-edge technology and industry expertise to help our clients continue to thrive in an increasingly complex threat landscape. ”
Dave Excell, founder of Featurespace, added:
“We have developed innovations to help solve even the most complex fraud cases.
As part of Visa, we will be able to integrate our solutions into a suite of products and services that help set a new standard in AI-powered fraud prevention and make the world a safer place to transact. Masu. ”
Featured image credit: Edited from freepic
