~ Partnership enables community financial institutions to offer Paze; Star One Credit Union among the first to launch~
Payfinia, an independent payment services firm providing an open payments framework, announced today its partnership with Early Warning Services to offer PazeSM, an online checkout solution developed by Early Warning Services and offered by participating banks and credit unions. Star One Credit Union, one of the nation’s largest credit unions with more than $9 billion in assets, is the first financial institution onboarding Paze through Payfinia.
Paze is a fast, easy and convenient online checkout solution that offers added security through tokenization, and actual card numbers are never shared with merchants. Now, participating financial institutions will leverage Payfinia's digital wallet services, designed to streamline the secure exchange of eligibility information and enable seamless access to the Paze digital wallet checkout experience.
To ensure comprehensive user privacy and compliance, Payfinia’s digital wallet service provides a computing layer that protects critical user data supplied by financial institutions. "The confidential computing overlay service enables Payfinia to process and analyze financial data in a safe environment, ensuring both speed and security for the financial institution and their digital wallet users” said Nizar Jamal, CTO of Payfinia.
“Through our partnership with Payfinia, credit unions and community financial institutions will now have a more streamlined path to offering Paze,” said Eric Hoffman, chief partnerships officer at Early Warning Services. “Payfinia’s trusted relationships and technical capabilities make them an ideal partner to help extend the reach of Paze—bringing a fast, easy and convenient online checkout experience to more consumers through the institutions they know and already use.”
According the Paze PulseSM report, Americans have an appetite for a financial institution-provided digital wallet, with 82% of respondents report trusting their bank’s security more than third-party payment options.
“More consumers are demanding a seamless eCommerce checkout experience, and they prefer to initiate the checkout process through a digital banking solution offered by their financial institution,” said Keith Riddle, general manager of Payfinia. “We are thrilled to partner with Early Warning Services to offer Paze to our open payments framework and eCommerce services as a means for community financial institutions to enhance the digital wallet experience revenue. Through this partnership, our clients will have a seamless, eCommerce service, creating more efficient checkout experiences and satisfied consumers.”
“We’re proud to be launching Paze for Star One Credit Union customers later this year, bringing a seamless digital wallet experience to our 132,000 members,” said Minal Gupta, president, at Star One. “Star One has been a long-standing partner of Payfinia, and together we’ve already seen the impact of modern payments infrastructure on member engagement. By enabling Paze, we’re helping them take the next step—delivering a streamlined eCommerce checkout experience that aligns with how members want to shop today.”
About Paze
Paze is a reimagined online checkout solution that banks and credit unions offer to consumers and merchants, combining all eligible debit and credit cards into a single wallet and eliminating manual card entry. Solving long-standing challenges in e-commerce, Paze provides an easy experience for consumers and merchants alike. More than 150 million credit and debit cards have been added to the Paze checkout solution. To learn more about Paze, visit www.paze.com. Paze is operated by Early Warning Services, LLC, an innovator in financial and risk management solutions. PazeSM and the PazeSM related marks are wholly owned by Early Warning Services, LLC and are used herein under license.
About Payfinia Inc.
Payfinia Inc. is an independent payments company, providing community financial institutions (CFIs) access to and ownership of their instant payments services. Payfinia’s flagship product offering, the Instant Payments Xchange (IPX), is a secure, scalable and affordable real-time money movement service. Additionally, Payfinia partners with third-party digital providers to integrate instant payments with traditional payment and money movement solutions, extending the technology provider’s capabilities, while also providing community financial institutions (CFIs) a more robust payments ecosystem. To learn more about Payfinia, visit payfinia.com.
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“We’re proud to be launching Paze for Star One Credit Union customers later this year, bringing a seamless digital wallet experience to our 132,000 members,” said Minal Gupta, president, at Star One.
Contacts
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Anna Stanley
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