Visa Announces Acquisition of Featurespace to Help Prevent Fraud and Reduce Financial Crime Risks

On September 26, Visa announced the acquisition of Featurespace, expecting to complete the transaction in fiscal year 2025.

Featurespace, a payment risk solution provider, develops real-time artificial intelligence payment protection technology to prevent and reduce the risk of payment fraud and financial crime.

This company develops innovative algorithm-based solutions that analyze transaction data to monitor even the most elusive cases of fraud.

The acquisition of Featurespace enables Visa clients to control fraud in real time and protect the payments ecosystem with AI technology.

Visa said the acquisition of Featurespace will complete and enhance the portfolio of fraud monitoring and risk scoring solutions used by global Visa clients to help them grow and protect the transactions.

Over the past five years, Visa, a globally recognized payment services company, has invested billions of dollars in technology to prevent fraud and enhance cybersecurity.

With the definitive agreement signed by both parties, the transaction is subject to regulatory approval, and Visa expects to complete the acquisition in fiscal year 2025.

Antony Cahill, Global Head of Value-added Services at Visa, said: “Providing our clients with solutions that can adapt to and anticipate the changing threat landscape is of the utmost importance. Featurespace's strong foundation in AI will enhance our existing product portfolio and enable us to address our clients’ most complex and pressing challenges. We look forward to welcoming the Featurespace team to Visa.”

Dave Excell, Founder of Featurespace, added: “Over the past 12 years we have served the financial services industry, building a company that has gone from strength to strength, and we are thrilled to become a part of Visa. With Visa, we can bring the innovation, integrity and purpose of our platform and our team to more payment service providers and ultimately, stop more people from becoming victims of financial crime.”