Which types of information could help improve authorization rates for transactions?

Billing authorization rates are significantly influenced by the quality and accuracy of the information provided during a transaction. The correct answer identifies the types of information that directly relate to the verification of the cardholder's identity and the legitimacy of the transaction.

The postal code and CVC (Card Verification Code) are specifically designed to combat fraud. The postal code helps the issuing bank confirm that the address provided by the customer matches the one on file for the cardholder. This added layer of verification can enhance the likelihood of a successful transaction by reducing the risk of fraudulent activity. Similarly, the CVC acts as a security measure that verifies that the user is in possession of the physical card, since the CVC is not stored on the magnetic stripe or chip.

While billing address, email, and phone number can be beneficial for customer communication and post-transaction support, they do not directly validate a transaction as effectively as postal code and CVC do. Card number and expiration date are fundamental to any transaction, but they are not additional security elements that help improve authorization rates, particularly in cases of potential fraud. Transaction ID and account number are not typically employed in the real-time authorization process, as they are more relevant for reference and record-keeping rather than immediate verification of transaction legitimacy