Elavon CEO Announces Paze Mobile Wallet Pilot

CEO Wally Mlynarski plans to scale the secure digital payment tool following pilot programs.

Updated on Oct. 29, 2026 in Financial Services

Isometric editorial illustration of two interlocking steel plates connected by an industrial latch, symbolizing secure digital payment architecture. — Elavon, a subsidiary of U.S. Bank, has launched a pilot program for its Paze mobile wallet, emphasizing secure digital payment protocols for enterprise commerce. AI Illustration. Upload story photo >

Live Poll

Do you prioritize security over convenience when using new digital payment tools for your finances?

Elavon CEO Wally Mlynarski announced that the Paze mobile wallet is now ready for pilot programs. The initiative prioritizes consumer trust and safety within agentic commerce to avoid historical e-commerce fraud issues.

Why it matters

By emphasizing safety and soundness, the company aims to establish robust protocols before the widespread scaling of agentic commerce. This approach reflects a strategic pivot toward long-term trust over rapid adoption in the digital payments sector.

Paze is backed by 7 large U.S. banks, with the platform designed to function within agentic commerce environments. The exact scope of initial pilot participants and transaction volume targets remains undisclosed.

The players

Wally Mlynarski

He serves as the CEO of Elavon and returned to the company in 2026 to lead its strategic direction in payment technologies.

Elavon

Headquartered in Atlanta, this company is a subsidiary of U.S. Bank that provides merchant services and payment processing solutions.

Early Warning Services

This organization, which is owned by seven large U.S. banks, is the parent entity behind the Paze mobile wallet platform.

The details

Elavon, a subsidiary of U.S. Bank, intends to embed these banking services directly into client point-of-sale and enterprise resource planning systems. The platform addresses concerns surrounding potential agent hallucinations by keeping payment processes within secure, verified frameworks.

2010s: Mobile wallet wars occurred.
2026: Wally Mlynarski returned to Elavon.
October 29, 2026: CEO Wally Mlynarski announced the Paze pilot phase during the Money20/20 conference.

Market Landscape

The emergence of Paze as a secure alternative in agentic commerce represents a competitive response to existing integrations like Stripe's Link digital wallet. This move positions Elavon and its banking partners to reclaim market share in a space where tech giants are rapidly deploying AI agents.

Business customers can expect new payment capabilities to be embedded directly into their existing point-of-sale and enterprise resource planning systems. Consumers will likely see Paze as a new, bank-verified option during checkout processes once the pilot phases conclude.

The takeaway

Companies looking to adopt agentic commerce should prioritize high-security frameworks to maintain user confidence. Implementing proven trust protocols early helps prevent the fraud risks that historically plagued the growth of mobile payments.