Multinational payment card services corporation Visa has announced that it signed a definitive agreement to proceed with the acquisition of Featurespace . In a bid to complement and solidify its fraud detection and risk scoring solutions portfolio, Visa signed a deal to acquire Featurespace, a company developing real-time artificial intelligence (AI) payments protection technology that mitigates fraud and financial crime risks.

In addition, Featurespace provides algorithmic-based services that allow users to analyse transaction data and detect complex fraud cases. Visa’s acquisition of Featurespace and the move’s objective When commenting on the announcement, representatives from Visa underlined their company’s commitment to equipping clients with solutions that can adapt to and anticipate the evolving threat landscape. With Featurespace’s knowledge in artificial intelligence, Visa intends to augment its existing product portfolio and allow the firm to address its clients’ complex and pressing difficulties. Moreover, by merging their expertise, Visa and Featurespace intend to enable clients to manage fraud in real-time and further safeguard the payment ecosystem leveraging AI-powered solutions.

The current move focuses on advancing Visa’s allegiance to landscape security, with the company substantially investing in technology, including to minimise fraud and optimise network safety. As per the information detailed in the press release, at the time of announcement, the transaction was subject to customary closing conditions, including receipt of applicable regulatory approvals. Additionally, the deal is projected to close in fiscal year 2025 and is set to offer significant benefits and advantages to financial institutions, consumers, and the overall payment industry. Visa’s efforts towards increasing security and improving the user experience The acquisition of Featurespace follows Visa’s plans to apply its infrastructure, technology, and features to A2A payments and deliver consumers more control and safety.

Coming in early 2025 in the UK, Visa A2A intends to provide consumers with a smarter, digital user experience, optimised security capabilities, and a convenient dispute resolution service. In addition, the company highlighted its plans to scale control and usability to benefit consumers, banks, and businesses. Source: Link .