Has Anyone Gotten Notified By Credit Card Co About Paze?

OneEyedDiva

OneEyedDiva

SF VIP
Location
New Jersey
I got emails from Chase and Wells Fargo saying that my cards will soon be ready to use with Paze. It is being touted as a 'secure and convenient" online checkout option. Chase wrote: "Soon your eligible Chase credit and debit cards will be linked to Paze. Choose Paze as a checkout option when checking out with a participating online business. We'll notify you when Paze is ready to use. For now, learn more about Paze by visiting
chase.com/paze

Wells Fargo wrote: Benefits of Paze
Added security - your actual card number is not shared with online merchants at checkout
Convenient - No need to download a new app or manually enter full card numbers
Easy - Your eligible cards from Wells Fargo and participating banks and credit unions are combined into one online checkout solution.

The email goes on to say just activate Paze when checking out online for the first time. It also provided a link to merchants who are accepting Paze. So far it's not that many but the link says more merchants are coming soon. Omaha Steaks, Teleflora and Cinemark are among the few listed.

I don't know how useful this will be because most of my online shopping is done on Amazon. My card is stored there and I get 5% back on all purchases. I do like that my actual card number doesn't have to be entered. This reminds me of when I got virtual card numbers from Citibank, except I had to enter those numbers. I also pay my main charity online but I doubt they'll be accepting Paze anytime soon.

The Paze site lists Bank of America (BOA), PNC and Capital One among the other banks offering Paze. So far I haven't gotten an email from BOA. How likely are you to use Paze if it becomes available to you?
 

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I've never heard of it but we only use Navy Federal Credit Union. No one else I know, has mentioned it. I probably would NOT use Paze. We've used PayPal for years for online purchases and will probably stay with that until we can't. It seems like a lot of trouble to change things up every year!
 
Paze? Never heard of it. If only the big name banks are offering it, I would be careful. I am reminded of Zell which, IMO, has very little to protect you against fraud if some bad guy uses it to drain your bank account.
 

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Brookswood said:
Paze? Never heard of it. If only the big name banks are offering it, I would be careful. I am reminded of Zell which, IMO, has very little to protect you against fraud if some bad guy uses it to drain your bank account.
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I don't like using Zelle but I have had to use it a few times with people who don't have Cash App. One was my cousin, the other was the friend who produced my videos. One thing I found out about Zelle that I don't like, is that you can only use it with one financial institution. I tried to use it with Chase and Chase notified me that I couldn't because I was already using it with another bank.

As far as protecting against fraud, I wouldn't know about that since I haven't heard fraud stories about Zelle. I have heard them about Venmo though. To help prevent fraud, people should always have two factor identification and know exactly who they are sending money to. With Zelle and Cash App, you can use the person's phone number, email address or Cash App name. Often the picture of the person will show or at least the person is in their system so the right person will pop up.

Since Paze codes the credit card number instead of using the actual number and each code can only be used with one merchant, it may make fraud harder to commit fraud. It will be interesting to see if that winds up being the case.

@dilettante I will never buy anything from Omaha Steaks either. I don't eat steak and my son doesn't eat meat.
 
I just now came across this thread. So, @OneEyedDiva, have you tried Paze yet? I got an email about it from my bank—Wells Fargo—a couple of weeks ago. The email came across literally the day after WF had put a freeze on one of my credit cards because they detected a fraudulent transaction that someone (in London, apparently) attempted twice. I was glad WF was on top of things and caught it before it went through.

Getting the email so soon afterward was probably a coincidence. I opted not to try it (i.e., Paze), but I may rethink it. I live in a rural area and do most of my shopping online, mostly through Amazon, and I have two-factor authentication set up for most sites where I use a password.

Anyway, I'm curious to hear what your (and others') thoughts are.
 
KSav said:
I just now came across this thread. So, @OneEyedDiva, have you tried Paze yet? I got an email about it from my bank—Wells Fargo—a couple of weeks ago. The email came across literally the day after WF had put a freeze on one of my credit cards because they detected a fraudulent transaction that someone (in London, apparently) attempted twice. I was glad WF was on top of things and caught it before it went through.

Getting the email so soon afterward was probably a coincidence. I opted not to try it (i.e., Paze), but I may rethink it. I live in a rural area and do most of my shopping online, mostly through Amazon, and I have two-factor authentication set up for most sites where I use a password.

Anyway, I'm curious to hear what your (and others') thoughts are.
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I'm glad WF caught the fraud Ksav. I find that banks are pretty good about doing that. I've had attempted fraudulent charges stopped by Bank of America (an old card that I closed the account for years ago) and Chase. With one of them, someone tried to buy tickets to the Caribbean after trying to charge about $10 at a gas station in Pennsylvania. And once, Chase suspected fraud and stopped the charge, but it was me and I had to call them.

I haven't tried Paze yet. My online shopping is pretty much done on Amazon and Chewy. I use the Amazon Store card and occasionally they ask me to enter my password and the full credit card number when I use the computer. I stay logged in on my tablet (unless I'm traveling). So far, no problems doing that. Both retailers have my numbers saved in their systems. I'm not sure I'm going to bother with Paze. If I do, I'll try to remember to let you know.
 
OneEyedDiva said:
This reminds me of when I got virtual card numbers from Citibank, except I had to enter those numbers.
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I miss the days when banks had virtual credit card numbers. I could limit the amount on the transaction and change the expiration date so the merchant couldn't use it after that transaction. I'd like to see something like that again at banks. I was so sad/mad when they discontinued it. I know there's a paid version but that's one more entity that has the information.

I haven't looked at Paze.
 
Aunt Bea said:
I received a notice about it from BofA but haven’t acted on it.

I still use PayPal, when available.

I would like to find, and become familiar with, a safe way to send cash to individuals/family members.
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Aunt Bea, my family and I have been using Cash App with no problems for years. My husband first told me about it and got me to sign up. His daughter was living across country, ran into a snag and needed money immediately. He sent it to her via CA and she did in fact, get it right away. There's no charge to use it except if one does want the money to be deposited right away. Otherwise the money we cash out hits our bank accounts in two business days.

As with anything else, it's important to institute safety measures. When I first started using it, I connected my Cash App to a checking account that I don't keep much money in (in case I got hacked). I also use a pin (which may be mandatory now) so that no transaction can take place without entering it. Of course, anyone you send money to will have to open a Cash App account. Each of you will get $5 when you do. The other option is Zelle, which most banks offer. I personally prefer Cash App.
 
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caramel said:
I miss the days when banks had virtual credit card numbers. I could limit the amount on the transaction and change the expiration date so the merchant couldn't use it after that transaction. I'd like to see something like that again at banks. I was so sad/mad when they discontinued it. I know there's a paid version but that's one more entity that has the information.

I haven't looked at Paze.
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I had virtual numbers with Bank of America and when I got rid of that card...Citibank. There was a sense of security when using the virtual numbers. Things were going fine until Citibank decided to overhaul their system. After that there were glitches and then Citibank allowed a virtual number that had expired to pay a subscription I forgot to cancel. My interaction with customer service did not provide me with satisfactory answers. I wound up wasting time and getting frustrated, so I cancelled my account.
 
Howard Clark says Ignore it. Everything you do will be digitally tracked. He says ignore bank backed gimmicks.
Stick with Separate identities with superior products. He states he has had bad experiences. He understands
Digital payment schemes. Gas, moto mart, Hucks memberships.

Did I read that BOA was having problems a couple of months ago?
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MSN
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I recently received 4 cans of Morton's Salt from Amazon. I can't for the hell of it figure how I ordered such a dumb thing.
$11 seemed a good price but why. Rock Salt maybe in the late fall for Ice melt but 4 Iodized salt, a 10 year supply?
 
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I would not use Paze or Zell.

I use Venmo which is attached to separate small checking account at a local credit union. I keep just enough in that account to pay for a few Venmo uses each month. I do not like the idea of letting people reach into my main lchecking account and taking my money automatically. With my setup they can only take a few hundred at most, not drain my main account after I collect my SS and pension payments.
 
Brookswood said:
I would not use Paze or Zell.

I use Venmo which is attached to separate small checking account at a local credit union. I keep just enough in that account to pay for a few Venmo uses each month. I do not like the idea of letting people reach into my main lchecking account and taking my money automatically. With my setup they can only take a few hundred at most, not drain my main account after I collect my SS and pension payments.
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Same here. My pension and social security are deposited in different checking accounts than the one I use for Cash App. I do have automatic payments deducted from my main account by PSEG (electric bill) and Legal Shield. Both for decades and thank goodness, I never had a problem.
 
From Google search:

Unlike Zelle, which focuses on account to account transfers and platforms like Venmo, Paze is card-based and is not built from an app. Paze functions as a payment button on a merchant website into which users can load their cards.

Oh, it works from a.....merchant website..... :cautious:
 
I just got an email from Chase about Paze. IF what they say is true- "Added security - your actual card number is not shared with online merchants at checkout" that might be a plus, as retailers(online or not) don't have a very good track record of protecting customers data.
 
Nathan said:
I just got an email from Chase about Paze. IF what they say is true- "Added security - your actual card number is not shared with online merchants at checkout" that might be a plus, as retailers(online or not) don't have a very good track record of protecting customers data.
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True Nathan. I'm thinking Paze will be like getting virtual card numbers. I used to wish all banks did that but the last time I was using them, BOA had stopped and Citibank was the only card company I was aware of that used them. Although my numbers are stored on sites I use regularly and have with no issues, I am curious to see how Paze works and you've got me wondering if I should use it on the sites on which cards available to use with Paze are stored. :unsure:
@KSav
 
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