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Banks push customers toward digital wallets, but adoption hurdles persist
Paze, which relies on an online checkout button, must persuade late adopters and technophobic users who already prefer Apple Pay and Google Pay.
Banks are encouraging wider use of digital wallets for online payments, but payment providers face an adoption challenge from customers who are reluctant to switch, according to a WSJ Markets article.
The outlet highlights that Paze, which offers an online checkout button, is working to win usage against entrenched wallet options such as Apple Pay and Google Pay, where switching costs and familiarity appear to be major barriers.
WSJ Markets characterizes Paze’s effort as an uphill battle, especially in reaching consumers described as late adopters and those less comfortable with new payment technology.