Visa to Buy Fraud-Detection Firm BioCatch for $2.4 Billion

Visa agreed to buy BioCatch, a firm that spots fraud by studying how users behave, for $2.4 billion. Private equity firm Permira valued it at $1.3 billion in May 2024 — making the markup roughly 85%. That $1.1 billion gap in under 30 months shows how badly card networks want fraud tools they own outright.