What is this Paze thing Chase says they’re going to automatically sign me up for? Is this more attempts at data harvesting in the guise of security, and bank-run inferior options to the major *Pay options like Zelle is to Venmo, etc?
Paze is a digital payment method for making secure transactions online. You may see it as a payment option at some online merchants, but not all. Paze syncs your debit and credit card information associated with the email address you use with your bank.
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Paze is a digital wallet created by large banks in the United States, like Chase and Wells Fargo, to make paying online as simple as using Apple Pay or Google Pay but with bank oversight.
It is relatively safe, using encryption and tokenization to keep your information safe, so merchants don’t know your actual card information. It is not a scam or a data-gathering tool, but it does give banks the ability to control the payment process rather than a tech company.
If you don’t want to use it, most banks will let you opt-out easily within the online account settings.
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