Visa, a payment solutions giant, will acquire UK-based AI fraud detection startup Featurespace.

The acquisition, pending regulatory approval and expected to close in fiscal year 2025, will bolster Visa's fraud and risk management solutions.

Featurespace, backed by investors like Chrysalis Investments and Insight Partners, aids financial institutions in combating fraud through its AI platform.

This strategic move aims to enhance security in the payments industry, benefiting financial institutions and consumers worldwide.