Elavon pursues Paze, agentic commerce

U.S. Bank’s payment processor Elavon is preparing to pilot Paze, a new mobile wallet designed to compete with Apple Pay and Google Pay. For retailers, this represents a significant shift in the checkout experience. Paze is unique because it is backed by Early Warning Services—the same powerhouse behind Zelle—and owned by seven of the nation’s largest banks. This means millions of your customers already have eligible cards that can be 'claimed' in this wallet without them having to manually enter 16-digit numbers. Elavon is also signaling a move toward 'agentic commerce.' This involves AI agents that can negotiate and complete transactions on behalf of consumers. While this sounds futuristic, the immediate impact for merchants is the need for more secure, friction-free authentication. As traditional passwords become obsolete, your checkout process will need to rely on the deep trust and data held by banks. If you currently accept Elavon or U.S. Bank services, expect new integration options that focus on pre-filled payment data to reduce cart abandonment. The goal is to move away from guest checkouts that require manual entry toward a bank-verified, one-click experience.

Source: Payments Dive

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