What is one benefit of enhanced data capabilities in payments?

Enhanced data capabilities in payments primarily focus on improving the quality and quantity of information exchanged during transactions. When end-to-end data transfer is enriched, it means that more detailed data about the transaction is available at every stage of the process. This improvement can lead to better tracking, reconciliation, and fraud detection, making the entire payment process more transparent and efficient.

Having rich data enhances customer experiences by providing them with comprehensive transaction histories, helping businesses tailor services to meet specific needs. Additionally, it aids in compliance with regulatory standards, as authorities increasingly require detailed information for audits and reporting. Thus, the enrichment of data transfer through enhanced capabilities fosters a more reliable and robust payment system.