Visa partners with Expel to bolster cybersecurity offerings in response to rising global cybercrime costs, allowing clients to proactively manage cyber risks and enhance fraud defenses.
13 October 2023 – Global payment giant Visa has announced a strategic collaboration with leading security operations provider, Expel. The partnership seeks to expand Visa’s Value-Added Services portfolio by venturing into the Managed Detection and Response (MDR) segment, offering clients worldwide comprehensive cybersecurity solutions to combat the surging threat of cybercrime.
As cybercrime costs are projected to reach $10.5 trillion USD annually by 2025, Visa’s initiative, spearheaded by Global Head of Risk and Identity Solutions, James Mirfin, aims to empower businesses of all sizes to proactively manage their cybersecurity risk. By integrating Expel’s expertise in MDR, Visa clients will benefit from enhanced threat detection and response capabilities, intelligence-driven security measures, and 24/7 monitoring, all contributing to a more secure ecosystem. This collaboration reinforces Visa’s commitment to protecting global financial transactions and fortifying fraud defenses.