Statistically people who do payment fraud crap use rooted phones more, probably to help with things like location spoofing to get around other fraud detection methods when apps use third party payment libraries, so you reduce your fraud cost with something that is a few lines of code. The cost/benefit ratio is too good which is why you see it everywhere that has a payment fraud risk of some sort.

This way they can permanently ban your device. Fraud detection stuff works better too, but it’s mostly about the first.

Fraud becomes significantly less profitable and more of a pain in the ass if you need to set up a new phone for each account.