BofA Merchant Services Again Ranked No. 1 by J.D. Power for Customer Satisfaction

February 2, 2023 at 8:30 AM Eastern

CHARLOTTE, NC – Bank of America today announced that, for the second year in a row, its Merchant Services have been recognized as number one in customer satisfaction by J.D. Power in its 2023 U.S. Merchant Services Satisfaction Study.

J.D. Power is a global leader in consumer insights, data, analytics, and advisory services that help clients drive growth and profitability. The company’s industry benchmarks and reputation for independence and integrity have established it as one of the world’s most well-known and trusted brands. Based on responses from more than 4,800 small business customers of merchant services providers nationwide, J.D. Power’s rankings measured cost of service, security and chargeback management, payment processing, equipment and technology and service interactions. Bank of America ranked #1 in four of five factors: cost of service, security and chargeback management, payment processing, and equipment & technology.

“We are honored to be recognized two years in a row by J.D. Power for outstanding merchant services,” said Guy Harris, head of Merchant Services at Bank of America. “Having merchant services integrated into their total banking relationship allows our business clients to focus on what matters most to them.”

Bank of America’s proprietary merchant services solutions serve the unique payment needs of all business clients. The platform leverages innovations such as real-time payments and best-in-class digital capabilities to provide essential functions such as merchant acquiring, payments processing and settlement, along with value-added services such as analytics and security solutions. Additional benefits may be available for Bank of America’s Preferred Rewards for Business members.

J.D. Power

J.D. Power is a global leader in consumer insights, advisory services and data and analytics. A pioneer in the use of big data, artificial intelligence (AI) and algorithmic modeling capabilities to understand consumer behavior, J.D. Power has been delivering incisive industry intelligence on customer interactions with brands and products for more than 50 years. The world's leading businesses across major industries rely on J.D. Power to guide their customer-facing strategies.

J.D. Power has offices in North America, Europe and Asia Pacific. To learn more about the company’s business offerings, visit The J.D. Power auto shopping tool can be found at

Bank of America

Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 68 million consumer and small business clients with approximately 3,900 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 56 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries. Bank of America Corporation stock is listed on the New York Stock Exchange (NYSE: BAC).


Reporters may contact:

Andy Aldridge, Bank of America
Phone: 1.980.387.0514