Fight fraudsters on all fronts
PSPs have a unique position in both the Payment Ecosystem and the Fraud Economy, because they interact
with both merchants and their customers. This widens the net for fraudsters to exploit weaknesses at
the transaction level or merchant level.
The global digital payment industry is valued at $81 billion*
The payments industry is experiencing rapid growth, and the massive amount of point payment tools
available pushes PSPs to differentiate themselves with real-time adaptability. They must
consistently predict and meet the needs of all sizes and kinds of merchants. Ever-changing
expectations from alternative payment methods to regulatory innovation also keep PSPs occupied
with serving the requirements of consumers and regulatory entities.
PSPs saw a 169% increase in payment fraud rates in 2021*
Fraud in this space is calculated based on the combined abuse rates reported by merchants served by
Sift’s PSP customers. In researching these trends, our Data Scientists uncovered a key theme:
fraudsters follow the money. While PSPs must be prepared for payment fraud via stolen credit cards,
even greater consideration is needed concerning collusion via fraudulent merchant accounts as the
loss potential is much greater.
Visit Sift’s Fraud Intelligence Center for up-to-date trust and safety trends, new industry data, and emerging fraud tactics.