Walmart

The Consumer Financial Protection Bureau sued Walmart and payment app Branch Messenger, accusing them of illegally opening 1 million deposit accounts and charging $10 million in fees. Branch said the agency refused to engage in any meaningful way about the matter.

Walmart is pouring more firepower into its fledgling financial venture, signaling its ambition to wade deeper into financial services.

Card networks, fintechs and Walmart have started major account-to-account payment initiatives in the past few weeks.

By enabling instant settlement for bank payments at checkout, the retailer is adding speed to an option that reduces card transaction fees. But getting consumer buy-in may be a challenge.

The Swedish financial institution reports generative artificial intelligence will enable the company to lower headcount, while a digital payment rail is improving the financial performance at Walmart's PhonePe unit.

The retail giants are testing the limits of what customers will allow a generative AI system to do before making a payment.

January was a quiet month for traditional bank mergers and acquisitions, but some big-name firms still struck big deals. Here's a look back at the month's most noteworthy deals.

Acquiring the earned-wage-access firm and challenger bank would further efforts by the retailer and its partners to develop a "super app" featuring mobile financial tools.

Walmart has hired a veteran of American Express to run Walmart+, the membership program it unveiled less than a year ago to counter Amazon.com’s Prime plan.

Changing the retailer's prepaid card into a demand deposit account gives customers access to more digital banking tools.