Paze Hits Major Milestone: 125 million Credit and Debit Cardholders Can Check Out Online

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Oct 01, 2024, 09:03 ET

New online checkout solution available to credit and debit cardholders at Bank of America, Capital One, Chase, PNC Bank, Truist, U.S. Bank, and Wells Fargo

New general manager to lead next phase of Paze^SM growth

NEW YORK, Oct. 1, 2024 /PRNewswire/ -- Paze^SM, a new online checkout solution from Early Warning Services, LLC., (EWS) is now available for more than 125 million credit and debit cards across the United States. To enroll, eligible customers must activate their Paze digital wallet from their participating banks' mobile app or when checking out at a participating online retailer. In addition to this milestone, Serge Elkiner joins as Paze general manager to lead the product into its next phase of growth.

Paze, a reimagined digital wallet offered by banks and credit unions, will combine all eligible credit and debit cards into a single wallet, eliminating the need for manual entry at online checkout. The online checkout solution also provides added security by tokenizing credit and debit card numbers, meaning the 16-digit card number is not shared with the merchant when consumers use Paze to check out.

Paze was designed with both merchants and shoppers in mind, helping to solve key pain points in the online shopping experience. Checking out with Paze is an easy and convenient experience with no manual card entry, no new passwords to remember¹, and no need to download third-party payment applications. With its intuitive interface, Paze empowers consumers to navigate the online checkout process with ease and convenience, while helping to reduce cart abandonment for merchants.

To date, Paze has provisioned more than 125 million credit and debit cards across Bank of America, Capital One, Chase, PNC Bank, Truist, U.S. Bank, and Wells Fargo.

"It's becoming crucial to ensure a convenient online checkout, as more shoppers continue to transition to a digital shopping experience," said Cameron Fowler, CEO of Early Warning. "Paze now provides more than 125 million credit and debit cardholders the ability to check out easily with the added security of tokenization. We're also helping merchants to optimize e-commerce transactions and reduce shopping cart abandonment."

Growing Number of Merchants Adding Paze

Merchants continue to integrate Paze into their online checkout experience. For example, Teleflora, a near century-old floral service, implemented Paze to provide customers with a better checkout experience.

"Adding Paze to our online checkout experience gives our customers convenient access to their preferred cards, making them more likely to complete their purchase," said Matt Faulk, vice president, finance operations, Teleflora. "We're always looking for ways to enhance our best-in-class shopping experience, and we are pleased to offer a simplified checkout process for the millions of cardholders who can now shop with Paze."

In addition to Teleflora, Paze is available at Sephora, ShopRite, Harry & David, Cheryl's Cookies, The Fresh Grocer, Party City, and Broadway.com, plus GoDaddy's online payment options available for thousands of small businesses. For a complete list of merchants offering Paze as an online checkout solution, visit the Paze merchant directory.

New General Manager to Lead Next Phase of Paze Growth

Serge Elkiner, a payments industry leader and tech founder, has joined Early Warning to serve as general manager of Paze.

Elkiner joins EWS from Visa, where he served as the global head of product for money movement solutions, including Visa Direct. Previously, Elkiner co-founded YellowPepper, a fintech pioneer that played a pivotal role in reshaping mobile payments in Latin America and the Caribbean.

Elkiner will drive further momentum for Paze and oversee strategy, product development, and financial performance. Leveraging his years of experience in digital finance, he will work closely with financial institutions and partners to double down on merchant adoption and drive growth across broader consumer usage of Paze.

"We're proud of our achievements so far, and this is just the beginning for Paze. I look forward to having Serge drive consumer, issuer, and merchant adoption across the U.S.," said Fowler.

About Paze

Paze is a reimagined online checkout solution that banks and credit unions offer to consumers and merchants, combining all eligible credit and debit cards into a single wallet and eliminating manual card entry. Solving long-standing challenges in e-commerce, Paze provides an easy experience for consumers and merchants alike. At general availability, more than 150 million credit and debit cards will be available to consumers for making online purchases. To learn more about Paze, visit www.paze.com. Paze is operated by Early Warning Services, LLC, an innovator in financial and risk management solutions.

¹ Some merchants may require account setup to make purchases.

Paze and the Paze related marks are wholly owned by Early Warning Services, LLC. Other product and company names mentioned herein are the property of their respective owners.

SOURCE Early Warning Services, LLC