Visa has agreed to acquire the fraud prevention platform BioCatch for $2.4 billion in cash. On Monday, the company announced it would purchase the Israeli firm from funds advised by Permira, along with other shareholders.

BioCatch leverages artificial intelligence to detect fraudulent activity in real time, distinguishing legitimate users from attackers. The platform currently safeguards 1.8 billion devices and 760 million users globally.

Visa has been expanding its use of AI in fraud prevention through its Visa Vulnerability Agentic Harness platform, a tool designed to help clients identify and address fraud vulnerabilities. Over the past five years, the company has invested $13 billion in fraud technology and infrastructure.

"BioCatch will help our clients stop fraud before it reaches the payment stage," said Andrew Torre, President of Visa's Value-Added Services division. The deal is expected to close before the end of Visa's fiscal second quarter of 2027.