Visa has underscored the importance of cybersecurity in determining the success of digital commerce. During a discussion for the “Visa Protect Series,” Jeremiah Dewey, head of Cyber Solutions at Visa, emphasized that in today’s landscape, effective cybersecurity goes beyond just defense; it is essential for enabling business growth in a digital-first world.
Dewey pointed out that treating cybersecurity merely as a protective measure can expose businesses to increased risks. As fraud escalates and attack surfaces expand, he argues that organizations must recognize cybersecurity as a fundamental component of their business strategy. “It is a core business function,” he stated, noting that virtually every company today operates as a technology business at its heart.
The statistics surrounding cyber threats are alarming. According to data from Spin.ai, ransomware attacks surged by 126% in 2025, with average costs per breach nearing $5 million. Furthermore, nearly 70% of breaches now lead to significant business disruptions. Despite this, many organizations still view cybersecurity as a secondary function of their IT departments.
“The vast majority of fraud begins with a cyberattack,” Dewey explained. The repercussions of security failures can manifest as fraud losses, false declines, customer attrition, and damage to a company’s reputation. While the prevention of these failures may not directly generate revenue, it is crucial for preserving growth and stability.
Understanding the Evolving Threat Landscape
Today’s cyberattacks are increasingly sophisticated, often beginning not with brute force but by exploiting vulnerabilities such as misconfigured APIs and compromised credentials. Dewey acknowledged that while most organizations recognize this shift, awareness has not always led to comprehensive security coverage. He noted that threats can evolve rapidly, with zero-day exploits being weaponized within hours.
Perimeter-based security models are often ineffective in combating this complexity, especially in the payments sector, where companies navigate a vast ecosystem of issuers, acquirers, merchants, FinTechs, and vendors. Security teams often struggle to manage the overwhelming volume of data signals, which can hinder their ability to respond effectively.
“The court of public opinion will judge you more harshly if you’re not responding to events quickly and thoroughly,” Dewey said. He highlighted that consumers expect transactions to be fast, accurate, and secure, and they look for evidence that their protection is integrated into the customer experience. “If you can’t earn that trust,” he warned, “I don’t think you have a chance in today’s market.”
Dewey further emphasized that if risk detection is confined to a company’s internal boundaries, organizations inadvertently outsource their security posture to external partners without adequate oversight. As the threat landscape continues to evolve, identity has emerged as a critical focus of defense. This aspect now extends beyond human identities to include devices and even AI agents.
Transforming Security into a Competitive Advantage
The intertwining of cybersecurity and fraud is reshaping how organizations measure risk. Historically, cybersecurity has struggled to illustrate its direct impact on revenue, often being perceived as a cost center. However, this perception is changing as businesses begin to see the value of proactive security measures.
Many companies only recognize the importance of embedding security into their operations after experiencing breaches and subsequent losses. Implementing security “as far left as possible” allows for reduced friction, faster launches, and sustained customer confidence.
Visa has committed significant resources to enhancing its cybersecurity efforts. Over the past five years, the company has invested $12 billion in technology and infrastructure, with a substantial portion dedicated to cybersecurity and fraud prevention. This investment has granted Visa visibility into threat patterns that individual organizations cannot replicate.
“What we see on our own network, and the insights we gain through our global partnerships, provide us with a comprehensive view,” Dewey explained. This intelligence enables Visa to assist clients not only in responding to fraud but also in proactively preventing it by identifying threats early and disseminating insights swiftly.
Artificial intelligence (AI) plays a pivotal role in this evolution, allowing organizations to detect threats more rapidly and save millions in potential losses. Dewey noted that AI serves as an equalizer in the competitive landscape, empowering smaller issuers, merchants, and FinTechs to compete more effectively against larger rivals. “It’s no longer a matter of who can afford the most expensive solution,” he said, “but rather what tools can help the community.”
While AI enhances pattern recognition and triage, Dewey stressed that human judgment remains vital in interpreting context and managing complex incidents such as social engineering. Effective security systems utilize a combination of machine and human oversight, creating layers of checks and balances to foster trust, accelerate innovation, and capitalize on resilience as a competitive advantage.
Visa’s approach exemplifies the shift towards viewing cybersecurity as a critical element of modern business strategy, highlighting the need for organizations to adapt to the rapidly changing digital landscape.
