80% of Firms Targeted by Payment Fraud as Legacy Systems Struggle

A 2025 PYMNTS Intelligence report revealed that 80% of organizations were targeted by payment fraud last year — a sharp jump from 65% the year prior.

Despite the rise in digital solutions, 75% of U.S. firms still rely on paper checks, which remain the top source of B2B payment fraud. The reliance on outdated, manual methods is choking working capital, delaying vendor payments, and putting firms at significant reputational and financial risk.

“Virtual cards can reduce Days Sales Outstanding (DSO) by 40%,” says Dean M. Leavitt, CEO of Boost Payment Solutions.

While virtual cards are gaining momentum as a safer alternative, many vendors still reject them. 52% of accounts payable leaders report encountering virtual card resistance, costing vendors revenue and adding friction to B2B relationships.

What’s at Stake?

Delayed payments → strained buyer-supplier trust
High check fraud risk → costly financial losses
Lack of spend visibility → compliance gaps
Manual workflows → higher operational costs

🔐 Strengthen B2B Fraud Defenses with Modern APIs

Instead of relying solely on bank network defenses or migrating to expensive ERP platforms, developers can now embed fraud prevention at the transaction layer using APIs.

🔍 BIN Lookup API

Instantly verify card details:

Detect risky issuing countries
Flag prepaid or commercial cards
Identify card brand and category

Use this during virtual card issuance or vendor onboarding to avoid fraud-prone segments.

🤖 ML-Based Fraud Detection API

Score each transaction in real time with:

Velocity and behavioral tracking
Anomaly detection based on network patterns
Embedded device and location fingerprinting

Ideal for virtual card platforms, B2B payment networks, and ERP-integrated payables.

Strategic Takeaway

Payment fraud isn’t limited to consumers — it’s endemic in B2B, and paper-based workflows are its biggest weakness. As more fraud shifts to vendor impersonation and transaction redirection, real-time, API-first solutions become essential.

If you’re building for enterprise payments or modernizing AR/AP processes:

Audit your existing fraud layers
Consider embedded card validation and scoring
Partner with API providers that can scale with you

Don’t wait for a breach to rethink your fraud stack.

80% of Firms Targeted by Payment Fraud as Legacy Systems Struggle