Which approach can help increase authorization rates according to Stripe best practices?

Focusing on optimizing payment flows and maintaining low fraud rates is crucial for increasing authorization rates. Streamlining the payment process ensures that customers have a smooth experience when attempting to complete transactions. This includes minimizing unnecessary steps and friction during checkout, which can lead to higher completion rates.

Additionally, keeping fraud rates low is essential because high instances of fraud can lead to a higher number of transaction declines from issuing banks, as they may flag transactions as risky. By implementing advanced fraud detection measures and machine learning algorithms to scrutinize transactions, businesses can decrease the chances of legitimate transactions being falsely declined. Therefore, this approach directly links to enhancing the overall authorization rates, making it a best practice according to Stripe.