In the fourth episode of PayFAQ: The Embedded Payments Podcast, brought to you by Payrix, host Bob Butler interviews Billi Jo Wright, the Chief Risk and Compliance Officer of Payrix. This conversation is the second part of a two-part series on understanding and managing the risk of moving money.

Billi Jo Wright has been in payments for over 25 years. She first spent 10 years on the issuing side and moved over to the acquiring side of the business with stops at Worldpay, MerchantE and Elavon over the past 15 years.  

In the market, there’s this perception that B2B vertical payments aren’t risky. Billi Jo argues that while it may be a little less risky, you still have to meet the risk and compliance expectations of your acquirer. You are responsible for the many facets of payments and must have a strong risk and compliance program in place. 

Billi Jo walks through the three business models for embedded payments (referral, payment facilitator, and payfac as a service) from a risk and compliance perspective, and wraps up the episode talking about the regulations you must abide by as a payments company. These regulations are constantly changing, adding complexity to maintaining a strong risk and compliance program.