Mastercard, Inc. MA recently entered into an agreement to acquire leading software company, Brighterion, Inc. This acquisition aims at expanding its suite of capabilities to deliver enhanced customer experience and security.

The transaction is presently subject to customary closing conditions and the terms of the agreementremain undisclosed.

Brighterion is famous for its artificial intelligence offering, which is a crucial component for delivering consumer convenience along with ensuring security. This advanced technology captures information from every transaction that helps in making more accurate fraud decisions.

Brighterion, via its unique Smart Agent technology, is expected aid Mastercard’s advanced suite of security products already using artificial intelligence. Both the companies look forward to delivering greater accuracy and a new element in managing risks and protecting consumers.

Mastercard has always remained focused on inorganic growth as part of its long-term strategy. Recently, the company completed two buyouts of VocaLink and NuData Security. Both the deals have substantially complemented the company’s efforts to participate in new payment flows and enhance its safety and security offerings.

Investors have viewed Mastercard’s inorganic efforts favorably. This is evident from its share price performance in last one year. The stock has rallied 38%, outperforming the Zacks categorized Financial Transaction Services industry’s gain of 22%, over the same period. This new buyout is likely to result in further improved trading experience for this Zacks Rank #2 (Buy) stock. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Management of Mastercard intends to fully realize the promise of increasingly digital lives by newly designing its payment system. The company’s extensive use of artificial intelligence has already started bearing fruit.  Hence, with the acquisition of Brighterion, the company expects its capabilities to get enhanced further and support consumer experience.

Brighterion has been a partner of Mastercard for a long time. Therefore, it is familiar with Mastercard’s patterns and trends of delivering customer experience. Brighterion looks forward to capitalize on the old relationship and provide industry-leading, holistic and seamless security experience.

As the payments industry shifts from plastic to digital, along with other big players like Visa Inc V, Discover Financial Services DFS, Total System Services, Inc TSS, Mastercard seeks to provide simple, convenient and secure payment solutions, regardless of the device being used.