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Consumers holding Bank of America Corp. credit and debit cards now have access to the Paze online checkout following BofA’s declaration that all of its eligible cards are now enabled for the e-commerce service.
Paze is an online-checkout service developed by Early Warning Services LLC. It is designed to provide consumers with a secure and reduced-friction checkout experience, one that should help merchants increased their conversion rates. It can do this because there’s no password to remember, no manual entry of card numbers, and no third-party applications to use, BofA says. In a press release it put out in 2022, BofA said it annually issues 54 million consumer and commercial cards. The bank would not disclose how many cards are eligible for Paze. It began its Paze rollout this past summer.
Other Paze issuers include Capital One, Chase, Elan, PNC, Truist, U.S. Bank and Wells Fargo. “More than 147 million credit and debit cards are now enabled with Paze, with ongoing progress bringing us closer to the 150 million mark,” a Paze spokesperson tells Digital Transactions News.
Consumers using Paze will find their card information and billing addresses preloaded. Consumers will be able to add different shipping addresses and store them in Paze, too. The wallet also features a card-updater capability.
Cardholders can activate Paze through the bank’s mobile or online sites or directly through a participating merchant’s checkout page.
Once activated, subsequent checkouts are completed with a tokenized card number. The consumer needs only to input the email address associated with the BofA card after clicking the Paze checkout button. A one-time passcode sent to the consumer’s mobile device is then entered, and the consumer chooses the card to use for the transaction.
So far, 23 merchants accept Paze. GNC is the latest, while others include Party City, Sephora, and Newegg. Paze also has distribution deals with Web services provider GoDaddy Inc. and software firm Endava plc.
