Global digital payments provider Visa has announced its plans to create more opportunities for clients to use its cybersecurity expertise through its services and risk management offerings.
As part of this initiative, Visa rolled out the global Visa Cybersecurity Advisory Practice, providing clients with analysis of the risk landscape together with actionable insights required to identify, evaluate, and mitigate emerging cybersecurity threats. Additionally, the company made changes to its cyber products leadership, appointing Jeremiah Dewey as global head.
Visa’s cybersecurity strategy
Since 2020, Visa has invested USD 12 billion in technology and infrastructure, including cybersecurity and fraud prevention, according to company data. Currently, clients worldwide are beginning to utilise the expertise and solutions enabled by this investment. The new leadership will support the development of Visa’s suite of cybersecurity products and establish strategic partnerships, ensuring that Visa meets its clients’ cybersecurity demands and needs.
Furthermore, Visa’s new dedicated payments Cybersecurity Advisory Practice leverages Visa Consulting & Analytics’ (VCA) global network of consultants, data scientists, and product experts. VCA delivers a suite of services to assist clients in formulating a cybersecurity strategy, including the Payment Cybersecurity Institute, Cybersecurity Maturity Assessments, and Enumeration Defense. To advance its commitment to enable clients with a comprehensive approach to cybersecurity, VCA intends to launch additional services, including threat intelligence, vulnerability testing and assessments.
Commenting on the news, representatives from Visa emphasised that, as cybersecurity is no longer seen as a cost centre but a critical part of any business’s growth strategy, the company aims to merge AI technology with the knowledge of its consulting and analytics practice to continue to provide improved offerings that help clients remain competitive in the evolving threat environment.
Latest news from Visa
In addition to focusing on extending its cybersecurity capabilities, Visa also recently entered into several collaborations with industry participants to further assist their operations. For example, Razorpay announced the launch of CardSync, a feature enabling CRED credit card holders to complete online payments without re-entering card details. Developed in partnership with CRED and Visa, the system allowed customers to leverage their saved cards on any merchant site that utilised Razorpay’s payment gateway. The solution, built on Visa’s tokenization framework, connected existing CRED cards to Razorpay Checkout, allowing single-step transactions for returning users.
