Wells Fargo has launched a new online checkout option from Paze.

Paze combines eligible credit and debit cards in an online checkout system.

During checkout, customers can click on the Paze button, enter their email address and the one-time passcode sent to their phones, and choose the card they want to use from their Paze wallet to complete the transaction.

The new option is available to those using the lender’s online banking app or for customers who are checking out a participating online merchant’s website.

The service is only available with participating online merchants and cannot be used at physical merchant location.

The technology aims to provide added security by replacing a card number with a different number, so customers don’t need to share their complete 16-digit card number with online merchants.

Users also won’t have to set up new usernames or passwords.

Abeer Bhatia, head of enterprise payments and personal lending at Wells Fargo, emphasised the important of making the experience of online checkout convenient and safe, as more people make purchases from their phones and laptops.

“We are proud to provide our customers with an online checkout experience that is easy and has added security because their actual card number is not shared with the merchant when using Paze,” he said.

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