Yes. And I had to agree to it before I could access my account online. This caught my eye:
We may terminate or suspend your use of the Digital Services at any time and
for any reason.
And while that just sounds like the Bank cya, it went on to say your new tokens have an expiration date and can just disappear. I stop reading at about page 42. I had already read enough to realize I don't want it. You no longer control your account, they do. They have signed up with PAZE, owed by Early Warning System, owned by several global banks.
This is the precursor to CBDC which tracks your every transaction to decide if it is token worthy or not. China is the shinning example they are modeling our future on.
A digital service agreement is something you sign agreeing to the banks terms on providing you online and mobile banking, it has nothing to do with 'digital tokens'. If you read thru the entire agreement, it is outlining all of their policies and procedures that guide the use of digital banking, i.e. online and mobile banking. There is nothing in that agreement that does any of the things you described in your original post.
The word 'token' was only in there twice, and it was in regard to a product called 'Paze', which is a digital wallet service that they go thru a 3rd party to offer. It is not forced on you, it is an optional service that allows the bank to share 'tokenized' payment credentials (credit card numbers) and other personal information with a participating business. And it also has nothing to do with digital tokens in the sense that you are talking about. This is referring to data tokenization, i.e. where personally identifiable information (PII) like your credit card number, social security number, etc.. is replaced with nonsensitive data so that it is not identifiable should a file be breeched. The data needs to be detokenized, converted back to the original data using a mapping process, before it can be used in any meaningful way. They use PAZE to send that tokenized data to businesses in order to pay for products or services that you purchase from that business, and you have to agree to have your information shared via PAZE to these businesses.
I'm in finance, and there are a lot of things people don't understand about how data is protected between institutions, but none of that has anything to do with tokenizing your money or controlling where you spend it.
PazeSM This Section applies to customers who have an Eligible Card that has been added to a Paze SM digital wallet. Description of Paze The Paze digital wallet service (“Paze”) is a digital wallet service offered by Early Warning Services, LLC (“Early Warning”) that allows you to share tokenized payment credentials and related personal information for a selected Eligible Card with participating businesses to make purchases online. “Eligible Card” means a PNC debit and/or credit card, and the underlying account, that we have determined is eligible to be added to Paze. Eligibility to Use Paze PNC, not Early Warning, will determine which of your PNC credit and/or debit cards are Eligible Cards. We reserve the right to add additional Eligible Cards to or remove Eligible Cards from Paze in the future. We will notify you when an Eligible Card is added to Paze. When your Eligible Card credentials and related personal information change, we may automatically provide updated information to Paze, Early Warning, and the applicable card network. Certain eligibility criteria to use Paze apply. When you access or use Paze, you represent that
a) you are a U.S. resident and (b) you are at least 18 years of age. Additionally, you must have enrolled in and have access to Online Banking and Mobile Banking, each Eligible Card must be in good standing, and you must not otherwise be restricted from using Paze based on any limitations imposed by us, Early Warning, the participating business, and/or any other financial institution or other third party associated with Paze. PNC, in its sole discretion, has the right to modify or terminate the eligibility criteria to use Eligible Cards with Paze. Eligible Card Agreements The terms and conditions applicable to your Eligible Card (“Eligible Card Agreement”) do not change as a result of your Eligible Card being added to, or you using your Eligible Card through Paze and are applicable to your use of your Eligible Card through Paze. Notwithstanding any other provision of this Section, in the event of a conflict between this Section and the terms and conditions of the Eligible Card Agreement, the Eligible Card Agreement will control. Any applicable interest, fees, and other charges that apply to your Eligible Card will also apply when you use your Eligible Card through Paze. Activating Paze; Your Consent to Share Information Before you can use Paze, you must first activate Paze through PNC’s Mobile app or another participating bank’s mobile app or online banking website, or through the checkout experience at a participating business. After activation, by selecting and confirming an Eligible Card through Paze to process a transaction with a participating business, you are authorizing Early Warning to share your information with the participating business, such as your tokenized payment credentials, address, and other Eligible Card information or personal information needed to provide the Paze digital wallet service (“Eligible Card Information”). Paze will transmit Eligible Card Information to the participating business or a third party the participating business engages, to enable processing of the transaction or to set up an online account with the participating business. You agree that the participating business or other applicable third party can transmit information about the transaction to the applicable card network for your Eligible Card and that your transaction will be completed using the Eligible Card you have selected. You understand that once you authorize the payment with the participating business, Paze is not involved in processing the transactions. The transactions will be reflected on your account for the Eligible Card you selected to make the payment. You agree that we may collect, transmit, store, and use certain information about you and your use of your Eligible Card(s) through Paze. PNC will use, share, and protect your personal information in accordance with the PNC Privacy Policy, which explains how we collect and protect your personal information and how and why in certain cases we may share such information. Please review the disclosure found at
www.pnc.com/privacy. You acknowledge that other third parties, such as Early Warning, will have access to certain details of the transactions you make using Paze. You acknowledge that PNC does not have control over the privacy and security of the information that you provide to such third party and that any information you disclose is subject to that third party's privacy policy and not the PNC Privacy Policy. By activating and using Paze, you are also authorizing us, and Early Warning, to send you messages via email, text message, and/or push notification concerning your Paze transactions. Use of an Eligible Card at a Participating Business You may be asked to confirm the authorized use of the Eligible Card when you access Paze by providing a onetime passcode that we or Early Warning send to you as an Alert, or by some other means as we may select from time to time. All purchases made using your Eligible Card through Paze, including the delivery of such goods and services, returns, and warranties ,are solely between you and the applicable participating business. You acknowledge that we do not endorse or make any warrants to you with respect to any participating businesses that accept Paze, and, unless otherwise required by law, we are not responsible for or liable for any loss or damage as a result of any interaction between you and a participating business. It is your responsibility to provide to Paze and/or the participating business your accurate shipping address. Participating businesses and other third parties may present you certain discounts, rebates, or other benefits via Paze. You acknowledge and agree that we do not endorse or warrant any of these offers, and we are not responsible for or liable for any loss or damage as a result of your acceptance or use of an offer. Removing Eligible Cards; Opting out of Paze You may remove an Eligible Card from Paze by visiting the Cards section of the Mobile app. If you remove an Eligible Card from Paze, it will no longer appear in your Paze wallet and cannot be used to conduct transactions with Paze unless you subsequently add the Eligible Card to Paze. Alternatively, you may, at your option, deactivate Paze entirely by opting out at mywallet.paze.com. If you deactivate Paze, you will no longer be able to use Paze at participating businesses unless and until you reactivate Paze. If you have issues removing an Eligible Card from Paze, you may Contact Us. Fees We do not currently impose a fee for using Paze. However, transactions made through Paze are subject to the applicable Eligible Account Agreement, which applies with the same effect and coverage, including any fees or other charges. Your wireless carrier message and data rates may apply. Suspension; Cancellation PNC or Early Warning may discontinue offering Paze at any time. PNC or Early Warning may suspend or cancel your use of Paze at any time without notice and for any or no reason. You agree that neither PNC nor Early Warning will be liable to you or any third party for any blocking, suspension, cancellation, or termination of your use of Paze or of one or more Eligible Cards through Paze. PNC Bank and Paze Paze is a third-party service operated by Early Warning. PNC is only responsible for providing information to Early Warning in order to allow you to use your Eligible Card(s) through Paze. PNC is not responsible for any failure of or inability to use Paze for any transaction. Early Warning, each participating business, and other third parties may have their own terms and conditions and other policies, such as privacy policies, and you are subject to those agreements when you agree to utilize their products and/or services. Unless otherwise required by law, PNC is not responsible for and does not provide support or assistance with any products or services offered by any participating business.
