Visa has announced a $2.4 billion cash acquisition of BioCatch, an Israeli risk control and anti-fraud platform.

The deal, disclosed in a company statement on Monday, involves purchasing the AI-driven fraud detection firm from Permira-managed funds and other shareholders. Visa will pay entirely in cash for the transaction.

BioCatch leverages artificial intelligence to identify fraudulent activities in real time, distinguishing legitimate users from cyber attackers. Its platform provides security protection for 1.8 billion devices and 760 million users globally.

Visa has been intensifying its use of AI in fraud prevention. Its Visa Vulnerability Agentic Harness platform helps clients identify and patch security vulnerabilities. Over the past five years, Visa has invested a total of $13 billion in anti-fraud technology development and infrastructure.

Andrew Torre, President of Value-Added Services at Visa, stated, "With BioCatch, we can help our clients intercept fraud before a transaction is completed."

The acquisition is expected to close by the end of Visa's fiscal year 2027 second quarter.