Walmart Plans Instant Bank Payments, Cutting Out Card Networks

An anonymous reader quotes a report from Bloomberg: Walmart customers will soon have the option to pay directly from their bank accounts with instant transfers for online purchases. The enhanced feature is a flash point in the escalating tensions between merchants and the card networks setting the fees for payment processing. The world's largest retailer has offered pay-by-bank through Walmart Pay since earlier this year. Until now, the transactions were akin to digital checks and took roughly t