<ul><li>Bank of America is leveraging merchant data to enhance payment approval rates.</li><li>Data sharing between issuers and merchants is crucial to improve authorization decision-making, especially in the rise of card-not-present transactions.</li><li>Technology solutions like Trusted merchant IDs and APIs are being utilized for better authentication decisions and claims investigations.</li><li>Efforts are being made to optimize the payment experience by securely storing card information for future use and enhancing security measures like 3DS 2.0 and 3DS Data Only.</li></ul>

Bank of America Taps Merchant Data to Boost Payment Approval Rates

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