Well Fargo is the latest lender to offer Early Warning Service’s Paze online checkout option to its debit and credit card customers.
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Wells Fargo customers can activate the Paze digital wallet in the bank’s app or when checking out at a participating online merchant’s website.
Paze combines all eligible credit and debit cards into a single wallet, eliminating the need for manual entry at online checkout. It also provides added security by tokenising credit and debit card numbers.
The wallet is the work of Early Warning Services, the bank-backed venture behind the hugely popular Zelle P2P payments service.
Wells Fargo is not the only lender rolling out the technology to its customers – Bank of America, Capital One, Chase, PNC Bank, Truist and US Bank are all making similar moves, making the wallet available for more than 125 million credit and debit cards.
Abeer Bhatia, head, enterprise payments and personal lending, Wells Fargo, says: “We are proud to provide our customers with an online checkout experience that is easy and has added security because their actual card number is not shared with the merchant when using Paze.
“As more people are making purchases from their phones and laptops, it is paramount to make the experience of checking out online as convenient and safe as possible for our customers.”
