On September 26, 2024, Visa announced that it had finalized an acquisition of Featurespace, a UK-based company that creates artificial intelligence payment security solutions intended to thwart financial crime and fraud. The acquisition is expected to enhance Visa’s existing suite of fraud detection and risk management solutions, enabling clients to manage real-time fraud more effectively. Antony Cahill, Global Head of Value-added Services at Visa, emphasized that Featurespace's AI capabilities will help Visa stay ahead of the evolving threat landscape and provide its clients with more advanced fraud prevention tools.
Founded in 2008, Featurespace has grown into a global leader in enterprise fraud prevention technology. Headquartered in Cambridge, UK, the company uses machine learning to detect complex and elusive fraud cases. Featurespace’s award-winning platform is trusted by more than 80 clients, including HSBC, Worldpay, and Danske Bank. Visa, a global leader in digital payments, operates across more than 200 countries and has heavily invested in technology to safeguard its payments ecosystem. The acquisition, expected to close in fiscal year 2025, will bolster Visa’s commitment to securing the payments industry and protecting consumers and businesses from financial crime.
