ACI Worldwide, in collaboration with Paze, an online checkout solution for banks and credit unions, has enhanced the online payment experience.
Banks and credit unions can now offer their consumers a streamlined way to make online payments using their preferred credit and debit cards. This process is secured through tokenisation and digital authentication, allowing cardholders to shop without needing to register or download any apps. As e-commerce expands rapidly, businesses face increased pressure to provide secure yet convenient checkout options.
With ACI Worldwide’s support, Paze aims to simplify the integration of its payment method across various platforms including web, mobile, and in-app environments for merchants of all sizes. This easy-to-integrate solution is expected to facilitate up to 16 million US e-commerce transactions this year by reducing friction during checkout processes.
Improving Checkout Efficiency
According to a recent ACI Worldwide study, 61% of customers abandon their purchases due to a lack of preferred payment options at the checkout stage. Meanwhile, nearly one in five e-commerce sites offer just one payment method, further increasing customer drop-off rates.
Paze’s wallet consolidates eligible credit and debit cards into a single platform, thus reducing manual data entry required for card transactions. Currently, Paze supports over 150 million credit and debit cards.
