Named Paze, the new service will be offered by participating financial institutions in a bid to deliver an improved payment experience for consumers shopping online and fend off the growing advances of Big Tech giants in the financial services space.
Participating institutions include Early Warning’s co-owners Bank of America, Truist, Capital One, JP Morgan Chase, PNC Bank, US Bank and Wells Fargo, along with Elan, a financial services company that provides corporate and virtual credit cards.
“We’re now 20-plus years into the e-commerce journey and there continues to be persistent and unsolved problems for consumers and merchants – and therefore for financial institutions,” explains James Anderson, managing director of Paze, in an interview with FinTech Futures.
