Walmart adds digital wallet options

Walmart's decision to finally accept Apple Pay and Google Pay marks a massive shift in the retail payments landscape. For years, the retail giant held out to promote its own proprietary wallet. Now, by enabling NFC-based tap-to-pay for phones, smartwatches, and contactless cards, Walmart is acknowledging that consumer demand for payment flexibility outweighs the desire to own the customer data loop. This move is a major win for frictionless checkout. For other retailers, this signals that mobile wallets have reached universal status. You can no longer afford to ignore these payment methods if you want to keep checkout lines moving. This update also impacts how consumers access financing at the point of sale. Many digital wallets now integrate directly with Buy Now, Pay Later (BNPL) providers and credit card installments. By opening up to Apple and Google, Walmart is effectively lowering the barrier for customers to use their preferred third-party financing tools stored within those wallets. Retailers should expect a surge in mobile wallet usage across the board. If a giant like Walmart has abandoned its closed-loop stance, it is time for every merchant to ensure their hardware and software are fully optimized for a contactless-first customer base.

Source: Payments Dive

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