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toomuchtodo·

Walmart is already preparing to adopt FedNow payments, and submitted comments during the public comment period.

https://www.pymnts.com/news/retail/2023/walmart-hints-at-ear...

https://www.federalreserve.gov/SECRS/2019/December/20191227/...

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> Walmart has observed a severe misalignment of incentives that has plagued the payments system in the United States for decades. Certain incumbents and large participants enjoy massive profits by stifling innovation in payments, ensuring that account access is limited to a small number of networks, and perpetuating barriers to entry for alternative solutions. Controlling this access allows the dominant players to extract rents from other payments system participants, ultimately resulting in higher costs for all consumers, particularly consumers who are unbanked or underbanked.

They say it how it is.

They are ignoring the systemic manipulation of the entire market against people deemed "undesirable" or that are just poor.

But well, they probably never noticed it.

In an enemy-of-my-enemy perspective, Walmart comes out as the "good guy" here because their market position aligns best with the unbanked/underbanked audience.

Neiman-Marcus is less likely to complain about their audience not having access to modern payment rails; they might kvetch about the cost of accepting a Platinum Amex, but that's a different debate entirely.

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