Visa and Expel Collaboration For Stronger Cybersecurity

Visa, a global leader in financial transactions, has announced a groundbreaking alliance with Expel, a premier security operations provider. They aim to extend Visa’s Value-Added Services into the thriving Managed Detection and Response (MDR) sector. With global cybercrime costs projected to reach USD 10.5 trillion by 2025, Visa and Expel are joining forces to empower clients worldwide. They aim to anticipate and guard against the ever-evolving cyber threat landscape.

James Mirfin, Global Head of Visa’s Risk and Identity Solutions, stressed the critical need for comprehensive cybersecurity measures. Businesses worldwide are experiencing annual losses of over $4 million due to cybercrime. Organizations could invest these financial resources in innovation and addressing market demands instead. Visa’s partnership with Expel enhances security solutions for clients in its extensive network.

Visa recognizes the many cybersecurity challenges businesses face, including a rapidly expanding threat landscape, a continuous stream of security alerts, and the struggle to attract and retain cybersecurity experts. Maintaining strong security, especially in cybersecurity, is a top priority for all clients within the Visa network. Building upon ongoing efforts to bolster the network’s security, Visa is committed to facilitating secure global financial transactions. They assist clients in identifying and mitigating their cyber vulnerabilities.

Expel’s MDR services prioritize threat detection based on clients’ critical assets, reduce response times to mere minutes, automatically thwart the spread of threats, and provide Visa’s clients with data to enhance their security posture.

This partnership aims to offer clients:

1.  A shift from reactive to proactive security centered around risk-based decision-making.
2. Enhanced capabilities for detecting and responding to threats, addressing evolving cyber threats and industry challenges.
3. External intelligence, trends, and threat methodologies strengthen MDR services.
4. Comprehensive visibility across attack surfaces, encompassing cloud, on-premises, SaaS applications, and Kubernetes.
5. Reduced time dedicated to security operations, we are enabling a focus on high-priority initiatives.
6. Round-the-clock security monitoring and response.

Dan Webb, VP of Global Channel Sales and alliances at Expel, expressed enthusiasm about the collaboration. Organizations worldwide rely on Visa to mitigate risks and enable secure transactions, and Expel is delighted to complement Visa’s efforts in combatting cybercrime with its MDR capabilities. Visa trusts Expel as the MDR provider that will assist its clients in extracting actionable insights from their security investments, reducing time spent investigating threats, and ensuring vigilant monitoring and response within their environments.

In the growing fraud and payment security market, Visa bolsters its cybersecurity foundation for more robust fraud defenses. This alliance strengthens Visa’s cybersecurity, safeguarding the network and clients.

Initially, Visa will introduce Expel’s solution to clients in the US and Canada, with global expansion plans ahead. This partnership underscores Visa’s commitment to global financial security against cyber threats.