Visa to Acquire BioCatch

Visa (NYSE: V) today announced it has signed a definitive agreement to acquire BioCatch, a leading provider of behavioral-first, multi-signal fraud intelligence, from funds advised by Permira and other shareholders for $2.4 billion in cash. The acquisition of BioCatch complements Visa’s existing cyber, fraud, risk and security solutions and is expected to help clients better protect themselves and their customers from the growing threat of account takeovers, scams, money mules and application fraud.

Since its inception, BioCatch has developed innovative AI and machine learning-based solutions that analyze thousands of application, behavioral, device, and network signals—such as keystrokes, touch gestures, and device handling—to detect fraud and distinguish legitimate users from fraudsters in real time. BioCatch protects 1.8 billion devices and 760 million users around the world, serving more than 350 banking clients in 21 different countries, including more than 100 of the largest banks globally.

“Account takeovers and scams cost the global economy over $1 trillion annually and AI is enabling these attacks at unprecedented scale,” said Andrew Torre, president of value-added services, Visa. “BioCatch will help our clients stop fraud before it reaches the point of payment. This acquisition is part of our strategy to help clients prevent cyber threats upstream, building trust into every transaction.”

AI, biometrics, authentication, identity, cyber defense and fraud prevention are increasingly interconnected, and Visa is investing to stay ahead of evolving threats, both to protect its own network and to help clients do the same. That includes the Visa Vulnerability Agentic Harness, an open-source AI security tool designed to help clients identify and remediate vulnerabilities at scale. The acquisition of BioCatch builds on Visa's existing suite of products, providing AI-powered solutions to detect and prevent fraud and both cyber and financial crime, from account opening to transactions. Over the last five years, Visa has invested more than $13 billion in technology and infrastructure to safeguard the integrity of the payments ecosystem and accelerate the decline in fraud rates.

“Real-time insights into customer intent continue to grow increasingly essential for institutions to establish trust within digital banking sessions,” said Gadi Mazor, CEO, BioCatch. “For more than a decade, we've demonstrated behavior’s unique ability to distinguish the criminal from the legitimate. In the last couple of years, we’ve shown how real-time intelligence-sharing networks between our customers can amplify the power of our behavioral intelligence further still. Together with Visa, we're even better positioned to advance our mission of making the world a safer place to transact and protect consumers from financial crime.”

The transaction is subject to customary closing conditions, including receipt of applicable regulatory approvals. The transaction is expected to close by the end of Visa’s fiscal second quarter of 2027 and will provide significant benefits to its financial institution clients, consumers and the wider payments industry.

About Visa

Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, sellers, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.

About BioCatch

BioCatch prevents fraud and financial crime by recognizing patterns in human behavior, continuously collecting more than 3,000 anonymized data points — keystroke and mouse activity, touch screen behavior, AI agent usage, jailbroken devices, and more — as people interact with their digital banking platforms. With these inputs, BioCatch's AI and machine-learning models continuously assess both user intent and any signs of coercion or manipulation throughout every millisecond of every digital banking session, allowing banks to distinguish the criminal from the legitimate in real time. Insights drawn from across the network of BioCatch institutions further amplify the power and accuracy of that real-time risk-scoring. More than 350 financial institutions deploy BioCatch solutions, analyzing 19 billion user sessions per month and protecting more than 760 million users on more than 1.8 billion devices around the world from fraud and financial crime.

Forward-Looking Statements

This release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are identified by words such as “will,” “is expected,” and other similar expressions. Examples of forward-looking statements include, but are not limited to, statements we make regarding the timing and likelihood of closing, BioCatch’s future success, the impact of the acquisition on Visa’s growth, BioCatch’s operational plans and the other benefits to Visa, financial institutions and consumers.

By their nature, forward-looking statements: (i) speak only as of the date they are made; (ii) are not statements of historical fact or guarantees of future performance; and (iii) are subject to risks, uncertainties, assumptions or changes in circumstances that are difficult to predict or quantify. Therefore, actual results could differ materially and adversely from Visa’s forward-looking statements due to a variety of factors, including the timing and outcome of the regulatory approval process, shifts in the regulatory and competitive landscape, cybersecurity incidents, the pace and success of integration, and various other factors, including those contained in our Annual Report on Form 10-K for the fiscal year ended September 30, 2025, and our other filings with the U.S. Securities and Exchange Commission.

You should not place undue reliance on such statements. Except as required by law, we do not intend to update or revise any forward-looking statements as a result of new information, future developments or otherwise.

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