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Paze sets big targets after revamp

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Paze sets big targets after revamp

The wallet’s bank owners are battling Apple and PayPal with an extensive marketing push, touting it as a more secure payment method.

LAS VEGAS – Early Warning Services aims to make inroads with the largest U.S. merchants for its Paze wallet over the next three years after the company revamped its product strategy last year.

Paze is trying to establish a two-sided network with consumers and merchants that embed the digital wallet into their checkout path, much like rival offerings from Apple Pay and PayPal Holdings. Paze’s immediate focus will be on adding the 100 largest U.S. merchants, Early Warning CEO Cameron Fowler said in an interview.

“We’re interested in habituation of high-volume transactions right now,” Fowler said of Paze’s goals, speaking Monday in a hotel suite EWS used for meetings during the Money20/20 financial technology conference this week in Las Vegas.

A Paze spokesperson had no immediate comment on how many of the top 100 merchants the company has so far.

Early Warning Services is a consortium owned by seven large U.S. banks, including Bank of America, Capital One Financial and JPMorgan Chase. It also operates the Zelle payments system for bank transfers and Certos, a fraud-prevention and identity risk provider.

Paze has endured a choppy path over the past three years, with slow adoption.

Serge Elkiner, a former product executive at Visa, joined Early Warning as Paze general manager in October 2024 as part of EWS’s effort to revitalize the project. Elkiner said he realized within a month of joining EWS that the wallet needed a massive overhaul, he said Tuesday in an interview at the conference.


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