By Billi Jo Wright, executive lead, general manager, integrated and platforms – PayFac at Global Payments
For more than 25 years, my career has been rooted in risk management. As the general manager of PayFac for Global Payments and former chief risk and compliance officer for Worldpay’s platforms line of business, I’ve never seen risk evolve as quickly — or become as deeply interconnected—as it is today.
When software leaders think about payments, they often think about transaction processing. But payments today are far bigger than that. They are embedded into software platforms, marketplaces, and daily experiences we rely on without even thinking about it. And as payments become more integrated, fraud risk expands far beyond a single merchant. It becomes a platform-wide responsibility.
That shift presents incredible opportunity — but it also raises the stakes.
Payments as a growth engine and a shared risk surface
What I love about my role at Global Payments is how closely risk aligns with the broader software platform journey. Payments are no longer an add-on; they’re a core part of how platforms differentiate, scale, and deliver value.
Our goal isn’t to take control from platforms or merchants. It’s to act as a true partner—helping them understand and manage risk while still allowing them to own the customer experience and embed payments seamlessly into their offering.
That partnership mindset is critical, because fraud today doesn’t sit neatly in one place. It touches every part of the ecosystem — from the software platform to the merchant, to the issuing bank, and ultimately to the end customer.
Why platforms can’t afford to treat fraud as an afterthought
Think about how often you interact with platforms that embed payments: scheduling apps, marketplaces, subscription services, restaurants, storage facilities, and countless others. Payments are woven into the customer journey, from product selection to checkout to post-purchase support.
At every stage, trust matters.
I’ve yet to meet a merchant who started their business because they love managing fraud and disputes. And I know John Winstel hasn’t either; we recently chatted about this during our candid fraud-centered conversation. (If you missed it, you can listen to it here.)
Merchants build businesses because they have a product or service they believe in — and they want customers to come back.
The same is true across the ecosystem. Issuing banks want cardholders to trust their payment methods. Platforms want users to stay engaged. And consumers expect every transaction to be secure, seamless, and reliable.
When fraud disrupts that experience, everyone feels it.
Real-world risk trends we’re seeing today
I see firsthand how quickly fraud tactics are evolving. A few trends stand out as particularly impactful for platforms right now.
1. Synthetic identity and AI-driven onboarding fraud
Merchant onboarding is one of the most vulnerable points in the risk lifecycle. We’re seeing a rise in fraudsters using synthetic identities, stolen credentials, and increasingly sophisticated AI-generated documents to open fake merchant accounts.
These accounts are often created for one purpose only: to process as much fraud as possible before being shut down.
Many of these fake documents look incredibly real. Without advanced tools — including AI-powered detection — it becomes harder to distinguish legitimate businesses from fraudulent ones. And when controls tighten, platforms risk introducing friction into onboarding if the balance isn’t right.
2. Card testing and automated bot attacks
Card testing is another major issue impacting platforms of all sizes. These attacks involve rapid surges of low-dollar transactions coming from multiple IP addresses, all aimed at validating stolen card numbers.
The fallout can be severe:
- Merchant accounts may need to be temporarily shut down
- Fraud losses and fees escalate quickly
- Legitimate customers experience service disruptions
For small and mid-sized businesses — hair stylists, restaurants, storage facilities — these attacks can be devastating. Many simply don’t have the expertise or resources to respond on their own.
3. The growing cost of friendly fraud
Friendly fraud — where consumers dispute legitimate transactions — is one of the fastest-growing challenges we see, particularly in digital and e-commerce environments.
In some sectors, up to 75% of chargebacks are attributed to friendly fraud. Whether it’s forgotten subscriptions, buyer’s remorse, or misuse of chargebacks as a refund mechanism, the result is the same: increased costs and operational strain for platforms and merchants alike.
The case for a layered, customer-centric approach
Managing modern fraud requires a layered strategy—one that spans onboarding, transaction monitoring, credential management, and dispute mitigation. But just as important as what controls you apply is how you apply them.
Overly rigid fraud rules can do more harm than good.
According the 2026 Global Fraud Report by Visa, global fraud losses are estimated at $43 billion — but the cost of false declines is nearly 10 times higher, exceeding $400 billion. Every incorrectly declined transaction represents lost revenue and often a lost customer.
That’s why balance is essential.
Effective fraud mitigation must:
- Reduce fraud without blocking legitimate customers
- Adapt to different platform models and merchant segments
- Improve authorization rates while enhancing security
Tools like account updater services, network tokens, and adaptive fraud models don’t just reduce risk — they also improve customer experience and drive measurable lifts in authorization rates.
Why the right payments partner matters
There’s no one-size-fits-all approach to software payments fraud. Every platform operates differently. Merchant needs vary. Risk profiles change by segment.
At Global Payments, we take a tailored approach — working closely with software partners to understand how their business operates and designing controls that fit their specific ecosystem, not a generic rulebook.
That partnership can make a real difference.
Fraud is becoming increasingly complex, increasingly automated, and increasingly platform focused. But with the right strategies, tools, and partners, it’s possible to protect every payment while still delivering exceptional customer experiences.
Knowledge is half the battle — and building fraud intelligence into your platform from the start is one of the strongest competitive advantages you can have.
For those interested, we’ve created an in-depth fraud guide that explores today’s threats and strategies in more detail. And if you’d like to see how Global Payments can help protect every payment and power what’s possible, we’d love to continue the conversation.