Visa Increases AI Fight Against Fraud With Featurespace Purchase

Visa blocked 80 million fraudulent transactions in 2023
Featurespace clients include HSBC, TSYS and NatWest Group

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By Teresa Xie

September 26, 2024 at 2:42 PM UTC

This article is for subscribers only.

Visa Inc. will acquire real-time artificial intelligence payments protection firm Featurespace Ltd. — marking the credit-card giant’s latest move in bolstering its fraud and financial crime risk detection portfolio.

Terms weren’t disclosed. Founded in 2008, and headquartered in Cambridge, UK, the private company develops algorithmic-based software to analyze transaction data and detect fraud. In addition to Visa, Featurespaces’ clients include HSBC, TSYS and NatWest Group.