This system facilitates the immediate transfer of funds from a customer’s bank account to Walmart at the point of sale, either in-store or online. For example, a shopper can use their bank account details to directly pay for groceries, bypassing traditional card transactions or cash.
This payment method offers several advantages. It provides customers with a convenient and secure alternative to credit or debit cards, potentially reducing reliance on revolving credit. For Walmart, it can lower transaction fees associated with card processing and streamline payment reconciliation. The adoption of such systems reflects an ongoing trend towards digital payment solutions and financial inclusion.