Walmart planning instant bank payments, Bloomberg reports

Walmart (WMT) customers will soon have the option to pay directly from their bank accounts with instant transfers for online purchases, Bloomberg’s Emily Mason reports. In the U.S., most consumers carry credit or debit cards which offer convenience, but frustration has mounted among merchants over fees they pay for card processing to banks and networks like Visa (V) and Mastercard (MA). Walmart’s upgraded pay-by-bank offering will be rolled out in 2025. The transactions will occur over bank technology provider Fiserv’s (FI) NOW Network, which integrates with The Clearing House’s Real Time Payments network and the Federal Reserve’s FedNow, the author notes.