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Visa has closed its acquisition of transaction monitoring company Featurespace, bolstering its fraud protection capabilities.
Financial terms of the deal remain undisclosed.
Featurespace uses artificial intelligence (AI) to analyse data in real-time, identifying and preventing both existing and emerging forms of fraud and financial crime.
Visa will integrate Featurespace’s capabilities into its fraud prevention and risk-scoring offerings.
With the combined products and tools, customers can get access to enhanced fraud protection services such as include real-time detection of fraud attacks.
The acquisition was first announced in September 2024.
Featurespace will now become part of Visa’s Risk and Identity Solutions business unit.
Over the coming months, Featurespace’s product portfolio will be incorporated into Visa’s offerings, thereby expanding the fraud prevention solutions and use cases.
IP Group, the first institutional investor in Featurespace back in 2012, has invested a total of £22.9m across seven fundingd rounds and is currently Featurespace’s largest shareholder.
IP Group anticipates a total cash receipt of £134m for its holding in Featurespace.
Visa Value-Added Services president Antony Cahill said: “Both our companies have been at the forefront of using AI to solve longstanding challenges and pain points in the payments industry. 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.”
Featurespace founder Dave Excell added: “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.”
"Visa finalises purchase of paytech Featurespace " was originally created and published by Electronic Payments International, a GlobalData owned brand.
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