The news: Nuvei partnered with Early Warning Services so merchants can integrate Paze into their checkout experiences.
Why this matters: Merchants are fighting against high cart abandonment rates. In the US, almost 71% of online shopping carts are abandoned before checkout.
Paze’s dynamic checkout can help reduce friction for Nuvei merchants; it lets customers check out without signing into an account. The tokenized wallet also provides additional security, shielding sensitive financial information.
Paze’s win: EWS has been trying to expand its digital wallet’s reach. Recent tie-ups with GoDaddy, Worldpay, and Fiserv have helped to broaden Paze’s acceptance network.
Partnership with Nuvei slightly accelerates this process, with a merchant base of 50,000 across the US and Europe.
Our take: Wallets like Apple Pay, Samsung Pay, and PayPal should be on notice as Paze becomes a more capable competitor. Paze may finally be able to take a bigger bite out of PayPal and Apple Pay’s market share as its merchant adoption rises.