Walmart to Accept Instant Bank Payments for Online Purchases and Simplify Checkout

Walmart is making online shopping even more convenient by accepting instant bank payments for online purchases. This new feature will allow customers to pay for their orders directly from their bank account, eliminating the need for credit cards or other payment methods.

This change is likely to simplify the checkout process for many customers. Walmart is known for its efforts to make shopping easier and more efficient.

The instant bank payment feature will be available for online purchases, making it easier for customers to pay for their orders without having to enter payment information.

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Walmart will soon allow customers to pay directly from their bank accounts for online purchases, providing an instant transaction experience.

Customers can link their bank account to their Walmart Wallet to pay for orders, an extension of Walmart's Pay by Bank solution launched earlier this year.

The direct pay option will allow consumers to avoid seeing stacked pending transactions on their debit cards.

Jamie Henry, vice president of emerging payments at Walmart, said customers carrying low balances could be at risk of insufficient funds or overdraft fees from their bank.

Customers will be able to pay directly starting in 2025.

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Walmart is teaming up with Fiserv to let consumers make real-time payments directly from their bank accounts for online purchases. This new option could potentially disintermediate credit card use.

The new service is expected to launch next year and will allow shoppers to pay online in real-time. Walmart is "pleased to bring the option of real-time payments forward in retail."

Walmart's spokesperson noted that this new option will provide shoppers with even greater choice in paying online. Fiserv's head of global e-commerce, Casey Klyszeiko, said that they are "incredibly proud to partner with Walmart on this real-time milestone."

The new service may tap into two U.S. real-time payment systems: the Federal Reserve's FedNow offering and The Clearing House's RTP network.

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Walmart is teaming up with Fiserv to let customers make instant payments from their bank accounts for online purchases.

This new service is expected to launch next year and will potentially disintermediate credit card use, giving shoppers more payment options.

Walmart is "pleased to bring the option of real-time payments forward in retail", according to a spokesperson.

The new service will tap into two U.S. real-time payment systems: the Federal Reserve's FedNow offering and The Clearing House's RTP network.

Fiserv's head of global e-commerce, Casey Klyszeiko, said the company is "incredibly proud to partner with Walmart on this real-time milestone."

Walmart is making online shopping even more convenient with its new instant bank payment option.

Starting in 2025, customers will be able to pay directly from their bank accounts for an instant transaction, eliminating the need for pending transactions on their debit cards.

This is an extension of Walmart's Pay by Bank solution, which lets customers link their bank account to their Walmart Wallet to pay for orders.

Consumers can avoid seeing stacked pending transactions on their debit cards, and they'll get immediate access to see that payment come through, making it easier to budget.

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Walmart's vice president of emerging payments, Jamie Henry, notes that customers carrying low balances could be at risk of insufficient funds or overdraft fees from their bank, but with real-time payments, this risk is greatly reduced.

For Walmart, the benefit of instant bank payments is that real cash lands in its own coffers instantly, without paying interchange fees of 1% to 2% for card-based transactions.

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