Walmart and Target are asking The Federal Reserve to develop a “real-time settlement service” that would make credit card charges immediately available to retailers:
“The Fed had discussed actions that could aid in the creation of a faster payment system, such as the development of a real-time settlement service. Target and Walmart, as well as trade groups like the National Retail Federation, have reportedly long talked to the Fed about faster payments. Fed actions could potentially enable shoppers to make payments from their checking accounts without going through the rails for debit cards.”
P.S. If Walmart gets its funds more quickly, cash flow could improve, helping to keep costs and prices down. Walmart is always looking to be the price leader. Our Accounting, Invoicing, & Deductions class can give you the skills you need to effectively work with Walmart’s accounting systems, reducing errors and costs while improving your relationship with your buyer.