Takeaways for banks from Walmart's about-face on Apple and Google wallets

Key insights: Walmart is supporting Apple Pay after a long holdout, creating new opportunities for banks and payment companies. What's at stake: The move resulted from a shift in consumer preference for more digital options. Expert quote: "Even a retailer with the scale to promote its own payment experience has recognized the value of accepting the methods customers already use. Banks, merchants, and payment providers that fail to support those preferences risk losing transaction volume and everyday relevance,"---Ed Dean, Nuvei. There is a broader urgency around immediate fund availability in consumers' day-to-day financial lives. Walmart's change of heart regarding Apple Pay and Google Pay acceptance is a major coup for mobile wallets.