Visa Buys BioCatch to Stop Bank Fraud Early
Visa just announced it is buying BioCatch to help stop bank fraud. This company creates tools that look at how people interact with their computers and phones. It can tell if a person is actually the account owner or if someone else is trying to take over.
Most fraud tools only check if a card number is valid during a purchase. This new technology acts much faster by watching for suspicious behavior while you are logged into your bank account. It spots criminals before they even try to move your money.
BioCatch started in Israel back in 2011 and already works with many large banks. By adding this business to its team, Visa wants to make online payments safer for everyone. The deal is expected to change how banks protect your digital information.
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