2023 Global Payments and Fraud Report: Key Takeaways

A Global Payments and Fraud report from the Merchant Risk Council, Cybersource, and Verifi surveyed 1,072 payment and fraud-management merchants worldwide and found rapid expansion in payment options, particularly digital wallets and buy-now-pay-later services. In North America, digital wallets were accepted by 76% of respondents, followed by direct debit or bank transfers at 73% and cards at 60%, while merchants accepted an average of 5.3 payment methods and added 3.2 in the prior year, primarily to improve customer experience. Key payment metrics included payment success rates, revenue, and payment costs, while global e-commerce fraud losses declined from 3.6% of revenue in 2022 to 2.9%, with North America reporting 2.4%. Fraud-management spending varied substantially by region, reaching 10% of revenue in North America and Europe, 15% in APAC, and 19% in Latin America. Phishing, first-party misuse, card testing, and identity theft were identified as major fraud threats, and merchants cited using data effectively, detecting emerging attacks, and tracking payment-network rule changes as leading challenges, with fraud analytics expected to be a major investment priority.

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