Worldpay and Early Warning Services have announced a new partnership at Worldpay’s annual client and partner event, Rethink, to enable Paze as a checkout option available to its merchants.
Paze is an online checkout solution developed by Early Warning Services that is offered by leading banks and credit unions in the U.S. The convenient Paze checkout experience enables consumers to pay online with their preferred credit and debit cards via added security through tokenization, and seamless digital authentication.
“At Worldpay, we’re committed to giving merchants more choice and flexibility in how they serve today’s digital-first consumers,” said Cindy Turner, chief product officer at Worldpay. “By making new checkout options like Paze available to our merchants, we’re making it easy for them to offer convenient checkout that boost conversion and customer confidence because they don’t have to share card details directly.”
Leading banks and credit unions enable Paze for their eligible cardholders, and cardholders do not need to sign up or download an additional app to use the checkout option where available. Recent research from Worldpay found that 68% of consumers selected a checkout method based on convenience and 48% abandoned a cart due to too many steps to complete checkout.
“Paze was created to meet the rising demand for a fast and convenient digital checkout,” said Eric Hoffman, chief partnerships officer, at Early Warning Services. “Through this collaboration with Worldpay, we’re making Paze instantly accessible to thousands of U.S. merchants, supporting our goal of nationwide coverage. This will bring added convenience and added security through tokenization to the 150 million consumers that already have access to Paze through their bank or credit union they already know and use.”
Working together, Worldpay and Early Warning Services are bringing new levels of convenience and security to online checkout. Because purchases made using Paze utilize the network tokenization framework, the consumer’s credentials are more secure than traditional manual entry and merchants can experience higher authorization rates. Seamless checkout can increase conversion rates by reducing the steps and friction to complete a purchase.
Worldpay’s vast merchant network in the U.S. using hosted payment pages will soon see Paze as a checkout option, and others will be able to “turn on” Paze as a checkout option with limited integration needed.