Texas Walmart’s Could Be Making Big Changes to Payments Moving Forward

Walmart is one of the largest retailers in Texas and across the United States and it looks like they might be making some changes to the way you pay for your products moving forward. Here's everything you should know about what Walmart is looking at doing in Texas ...

Walmart is reportedly preparing to make big changes to the way customers can pay for their online orders. The company recently announced that it will start offering an option for people to pay directly from their bank accounts. This new system would skip the need for credit cards, which could save both Walmart and its customers money.

Right now, when you buy something online from Walmart, you probably pay with a credit or debit card. But starting next year, Walmart will introduce a "pay-by-bank" feature. This means that customers will be able to transfer money straight from their bank accounts to Walmart, without using a credit card.

The new payment option will be faster and more efficient, thanks to a system developed with Fiserv, a financial services company. Fiserv’s NOW Gateway will connect different banking networks, making it possible to transfer funds instantly.

When people use credit cards, Walmart has to pay a small fee to companies like Visa and Mastercard. These fees may not seem like much, but they add up over time. By letting customers pay directly from their bank accounts, Walmart can avoid these fees. This could help lower costs for the company, and possibly for customers, too.

Customers might also benefit from avoiding those credit card fees, which can sometimes be passed on to them in the form of higher prices. Plus, the faster payment system means there’s less risk of overdraft fees that can happen with slower payment methods.

Walmart’s new pay-by-bank option will be available for online orders sometime next year. This could lead to other stores in Texas following the trend, as more businesses are looking for ways to save on credit card fees.

Read More from the Press Herald by CLICKING HERE.

For now, Walmart is one of the first major retailers to make this move, and it could make shopping easier and cheaper for people in Texas and beyond. Keep an eye out for this new payment option when shopping at Walmart next year!