The US company Visa Inc, operator of the largest payment system in the US, has reached an agreement to acquire the start-up BioCatch, which provides services to combat financial fraud using artificial intelligence technologies.
Visa will pay $2.4 billion for the company. The deal is expected to be finalised in the second quarter of the 2027 financial year, which ends in March next year.
BioCatch, founded in 2011 in Tel Aviv, works with more than 350 banks worldwide.
Visa’s shares rose by 1.8 per cent during Monday’s trading session.