Paze wallet: What it is and how it works

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Surprisingly, Paze doesn’t require you to download another app, since it’s automatically included in your banking app if you bank with one of its compatible institutions. This online wallet allows you to make online purchases without manually entering your card’s details. But unless you bank with one of its eight partnered institutions, it isn’t an option for you.

What is Paze?

Paze is an online card masking service and digital wallet. It offers a way to check out with compatible online merchants without manually typing in your card’s details. There are also no fees to set up or use the service.

Paze is owned and operated by the same people who operate Early Warning Services and Zelle. Early Warning Services assists financial institutions and check acceptance companies in detecting and preventing fraud. Zelle is a peer-to-peer payment app that is automatically included in many bank apps and can send funds to other Zelle users and US banks accounts almost instantly.

How does the Paze digital wallet work?

Paze doesn’t require you to download or sign up with an app to use it. If your bank is enrolled with Paze, it would have notified you that your cards are opted-in to Paze. Using Chase as an example, Chase states it has already added your eligible Chase credit and debit cards to your Paze wallet on your behalf and will notify you.

Paze only works with online merchants that are compatible with it and with cards associated with its partnered banks.

If you see the Paze logo when checking out with an online participating merchant, select the Paze payment option at an online checkout. You don’t have to enter your card’s issue identifier number (IIN), expiration date or CVV.

Is Paze safe?

Paze works similarly to other digital wallets in how it protects your card’s details. Your Paze wallet replaces your card’s information with a “token, ” a string of different numbers and letters, encrypting your card’s real information.

Paze discloses what personal information it collects, uses and what is encrypted. For example, Paze tokenizes your card’s details, encrypts your email address, and your Social Security number is hashed (meaning Paze can’t read it). You can see Paze’s Service Privacy Notice here for more information.

How do I set up Paze?

Most of the work is already done for you. Here’s how to set up Paze in just five steps:

1. Select Paze as a payment method with an online merchant.
2. Enter the email address you use with your bank.
3. Activate your Paze wallet by accepting the terms and conditions and verifying your information and identity. You can create a security code, too, but it’s completely optional.
4. Receive a one-time passcode from Paze to verify your identity during checkout.
5. Select the compatible card to make your purchase.

If you want to opt out of Paze, simply contact your bank and request that your cards not be added to a Paze wallet.

Which banks pair with Paze?

If you bank with one of Paze’s enrolled institutions, your cards are automatically enrolled into Paze. Banks currently partnered with Paze include:

• Bank of America
• Capital One
• Chase
• Elan
• PNC Bank
• Truist
• U.S. Bank
• Wells Fargo

What merchants use Paze?

There aren’t a ton of online merchants that use or accept Paze at the time of writing. Here are the seven online stores that accept Paze:

• CheapOair
• City Cruises
• City Experience
• Omaha Steaks
• Teleflora
• ShopRite
• Whataburger

Bottom line

The good news is that Paze is pretty much an automatic service if you bank with one of its partner institutions. It’s a free service, and you don’t have to download another banking app or create a new login to use it.

But if you don’t bank with one of Paze’s eight partner banks, you won’t have access to it. Currently, there are better payment options like Apple Pay or PayPal. They are two of the most commonly accepted payment methods and are likely compatible with your bank or credit union. Compare the best checking accounts for debit card options, or compare virtual cards if you want some extra security.

Frequently asked questions

Paze vs. Zelle: What’s the difference?

Zelle is a peer-to-peer payment service, allowing you to send money to other US bank accounts. It is automatically included with major banking apps such as PNC, Chase, Wells Fargo, Ally Bank and many more. You can also download it if it’s not already integrated with your bank’s app.

Paze is only for online purchases and is not compatible with most banks or credit unions — yet. Unless you bank with one of Paze’s eight partner institutions, you can’t use it.

Paze vs. Apple Pay: What’s the difference?

Apple Pay is a mobile payment service. To use it, enter your debit or credit card’s details into your Apple Wallet and then select Apple Pay as your payment method to make purchases in stores or with online merchants.

Paze is only for online purchases with seven eligible merchants, such as CheapOair and ShopRite, at the time of writing.