Nuvei enters strategic partnership with Early Warning Services to expand Paze, a US-based online checkout solution, to more merchants and consumers across the country.
The partnership implies Nuvei to integrate Paze checkout into its payment platform, allowing merchants to deliver a streamlined checkout process for customers who can use the credit and debit cards they already have with participating financial institutions, without manually entering card details or creating a separate account.
How can Paze make checkout a more seamless experience
Paze was specifically designed to simplify the checkout process and provide an extra layer of security for transactions by using tokenization, which replaces sensitive card account numbers with single-use, unique tokens. Apart from boosting security, tokenization also reduces friction, drives conversion rates for merchants, and reduces card abandonment.
According to Nuvei officials, friction at checkout remains one of biggest challenges of digital commerce, and merchants are constantly looking for better solutions. By partnering with Early Warning Services to bring Paze to checkout, the Canadian payment solution provider, Nuvei, will help deliver a faster and more convenient checkout experience.
The partnership also makes Paze’s checkout available to Nuvei’s extensive network in the US, which collectively processes billions of dollars in transactions annually. Merchants that choose to integrate Paze into their checkout systems will benefit from reduced cart abandonment rates while providing customers with a payment option that is directly linked to their financial institution. At the same time, they will also leverage tokenization to help protect sensitive card data.
Additional information about the companies
Paze represents an online checkout solution that banks and credit unions can offer to merchants and consumers, combining eligible credit and debit cards into a single wallet and, thus, eliminating manual card data entry. Currently, Paze helps process payments from more than 150 million credit and debit cards.
Canada-based fintech Nuvei provides modular, flexible, and scalable technology that allows companies to accept next-generation payments, offer a wide array of payout options, and benefit from card issuing, bank, and risk and fraud management services. It helps connecting businesses to their customers in over 200 countries, integrating more than 720 alternative payment methods.
