Chase will soon share their customers' credit card information with startup Paze

Paze is operated by a company called Early Warning Services, which is owned entirely by a collective of banks including Chase. They also run Zelle and a bunch of other infrastructure.

Calling it a startup is a bit misleading.

It’s by Early Warning Services, LLC (EWS) who makes Zelle too. Not a startup at this point

> EWS was founded in 1990 and is co-owned by seven of the largest banks in the United States, including Bank of America, Capital One, JPMorgan Chase, PNC Bank, Truist, U.S. Bank, and Wells Fargo.

They should change the name of EWS to something that consumers can grok, EWS sounds like it predicts severe weather, not makes apps that integrate with antiquated banking websites.

Early Warning Services already has your detailed bank history. This does have some benefits, like fraud prevention. Request a copy at https://www.earlywarning.com/consumer-information

Ugh, It's apparent that this is owned by the banks as there is no way in hell they would just opt in credit cards and debit cards to some random startup. I just don't like this idea that they can just push your information without you being able to opt out easily. Should've been opt in rather than opt out any way.

Thanks for sharing. Looks like I'll be calling customer service in the morning. Wonder if they'll even know what Paze is.

> Chase will load your eligible Chase credit and debit cards to your Paze wallet on your behalf and then notify you when they are ready for use with participating online businesses. If you do not want your Chase cards automatically loaded into a Paze wallet, you may contact Chase to request that your eligible Chase credit and debit cards are not made available for use in a Paze wallet.

Paze is not really a "startup": it's a product from the same company as Zelle. The company (Early Warning (earlywarning.com)) is "bank owned" and has been around for decades and is involved in fraud prevention for Chase (and others): Early Warning almost certainly already have much more than your credit card information.

https://simpleoptout.com/#Chase to start.

If you do not want your Chase cards automatically loaded into a Paze wallet, you may contact Chase 1 to request that your eligible Chase credit and debit cards are not made available for use in a Paze wallet.

Once they automatically add you can opt out through Paze 2. The chase link had no Paze information. I tried sending a message through my logged in account. There is no easy opt out option or button. These automatic opt-in things are bs but you can always use cash and linked gift cards I guess.

1. https://www.chase.com/digital/customer-service

2.https://www.paze.com/faq

Fun fact: the only credit cards in America that do not share credit card data with 3rd parties are:

1/ Apple Card 2/ Local Credit Union Cards

Apple doesn’t even have access to your transaction history as it is sired E2E encrypted in iCloud or on your local device. Goldman Sachs has access but they do not share it by the terms of their contract with Apple and privacy agreement.

I'm beginning to think that paying by cash or having an anonymous digital payment method is critical. Also, how is it legal for places to say they only accept credit cards not cash. I am seeing this even for government run services, hospitals, etc.

So, this seems like an alternative to things like Apple Pay and Google Wallet. What's the benefit of the banks? Bigger cut of the transaction fees somehow?

I must admit, I use Apple Pay whereever possible, I'll even temporarilly switch my browser to Safari if I see a merchant accepts Apple Pay, just because its so much easier than any other payment method.

Took me several reads to realize Paze is a homophone for "pays". I guess all the good names are taken.

great, how do we opt out

I used to care about this. But I feel like at this point PI at least about US citizens has been stolen or sold so many times, so unless you made some serious changes, does it really matter at this point?

This seems like it would be square within CFPB complaint territory.