Visa has underscored the critical role of cybersecurity in determining success within the digital commerce landscape. In a recent discussion hosted by PYMNTS, Jeremiah Dewey, head of Cyber Solutions at Visa, emphasized that effective cybersecurity goes beyond mere defense. As the landscape of online fraud evolves rapidly, organizations that treat cybersecurity as a secondary concern risk inviting attacks that could jeopardize their operations.
Dewey articulated that viewing cybersecurity as a core business function is essential for any company operating in today’s technology-driven economy. He noted, “I find it hard to think of any business today that isn’t at its core a technology business.” In this context, cybersecurity must enable trust and act as a catalyst for growth rather than merely a protective measure.
The statistics surrounding cyber threats are alarming. According to Spin.ai, ransomware attacks surged by 126% in 2025, with the average cost of a breach approaching $5 million per incident. Furthermore, nearly 70% of breaches now lead to significant business disruption. Despite these figures, many organizations still regard cybersecurity as a subsidiary of their IT departments.
Dewey pointed out that most fraudulent activities begin with a cyberattack. The repercussions of such attacks extend beyond immediate financial losses, impacting customer relationships and brand reputation. Thus, preventing security failures is crucial for preserving growth, even if it does not directly translate into new revenue streams.
Understanding the Evolving Cyber Threat Landscape
The nature of modern cyberattacks has shifted dramatically. Instead of relying on brute force, attackers are increasingly exploiting vulnerabilities such as misconfigured APIs and compromised credentials. Dewey acknowledged that while organizations recognize these changes, their awareness has not always resulted in comprehensive protection. He warned that zero-day exploits can now be weaponized within hours, underscoring the need for rapid and robust responses to threats.
Traditional perimeter-based security models struggle to keep up with the complexities of today’s payment ecosystems, which include various stakeholders such as issuers, merchants, and FinTechs. Dewey explained that security teams often face overwhelming amounts of data, making it challenging to respond effectively to incidents. He stated, “The court of public opinion will judge you more harshly if you’re not responding to events quickly and thoroughly.”
Consumers today expect transactions to be secure and efficient, and companies need to demonstrate that security is woven into their customer experiences. Dewey emphasized that earning customer trust is essential for success in the current market.
Integrating Cybersecurity into Business Strategy
To navigate this dynamic threat landscape, organizations must prioritize identity as a focal point of defense. Dewey highlighted that identity now encompasses not just employees and customers, but also devices and AI agents. This broader approach is necessary to keep pace with evolving threats.
The intersection of cybersecurity and fraud is reshaping how organizations measure risk. Traditionally viewed as a cost center, cybersecurity is increasingly seen as a vital component of revenue generation. Many businesses only recognize the need for robust security measures after experiencing breaches and associated losses.
Visa’s proactive approach to cybersecurity reflects its commitment to safeguarding its operations and clients. Over the past five years, the company has invested $12 billion in technology and infrastructure, with a significant portion directed towards cybersecurity and fraud prevention. This investment allows Visa to leverage its extensive payment network to provide insights that smaller organizations might lack.
Dewey noted, “What we see on our own network, and what we see through the information sharing we have with our partners globally, gives us a great view.” This intelligence not only aids in responding to fraud but also helps in preventing it by identifying patterns early.
Artificial intelligence (AI) has emerged as a crucial tool in this evolution, enabling companies to detect and respond to cyber threats more efficiently. Organizations utilizing AI can identify incidents faster, potentially saving millions for each event. Dewey acknowledged that AI serves as an equalizer, allowing smaller firms to compete effectively against larger entities.
Despite the advances in AI, Dewey emphasized that human judgment remains vital. While AI excels at pattern recognition, it cannot interpret context or manage nuanced situations such as social engineering attacks. Effective security systems should integrate both machine and human capabilities, creating a comprehensive safety net that fosters trust and accelerates innovation.
In conclusion, Visa’s insights highlight that cybersecurity is no longer just a protective measure but a fundamental element of business strategy in the digital age. Organizations that prioritize cybersecurity will not only safeguard their operations but also position themselves for success in a competitive marketplace.