Visa: Visa Agrees to Buy AI-Focused Enterprise Technology Company Featurespace

Visa has agreed to buy AI-focused Function spacethat develops business technology that prevents fraud and financial crimefor an undisclosed amount, he said Thursday.

Major technology companies are rushing to incorporate artificial intelligence into their products and services, driving growing demand for AI chips, services and products. machine learning technology.

Visa said Featurespace’s AI-enabled solutions will help its clients manage fraud in real time and protect their payments ecosystem.

Although the largest in the world payment processor did not disclose the value of the acquisition, a Sky News report last month cited sources putting it at around £700 million ($935.06 million).

Founded in 2008 and headquartered in Cambridge, UK, Featurespace has over 400 team members operating globally from six locations. Its clients include leading banking and payments companies such as HSBC, NatWest and Worldpay.

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