Banks' Paze digital wallet targets older 'protectionist' consumers to gain traction

Paze, the digital wallet backed by seven major U.S. banks, is targeting consumers over 44 who have so far avoided such services in an effort to gain market share against rivals like Apple Pay and PayPal. The service, operated by Zelle-owner Early Warning Services, is pitching itself as a secure option from a trusted bank, but adoption remains low. Paze's research identifies this older, affluent demographic as 'protectionists' who are loyal to their banks.