It may not be a good day for One.Finance and Walmart with the Marcus
   news?
   One's CEO Omer Ismail use to run Marcus:
   [1]https://www.linkedin.com/in/omer-ismail-b6400824
   He also has some big problems with Goldman and Apple Card. New York is
   dragging its feet on providinf xNY.io - Bank.org answers on FOIL
   requests.
   Seems like the NY-DFS Superintendent's office is part of the scheme?
   ----
   [2]https://www.pymnts.com/digital-first-banking/2022/walmart-takes-firs
   t-step-to-launching-digital-bank-with-one/
   [] Walmart

   Retail banking, indeed.  In the most literal sense.

   In a move that is not a surprise  — but is a seismic shift in financial
   services, nonetheless — Walmart is branching into bank accounts.

   And, by extension, bringing the banking branch into the retail aisles.

   Bloomberg [3]reported on Wednesday (Sept. 14) that the commerce
   juggernaut is set to begin offering — through its backing of
   FinTech [4]One — bank accounts and related services to its 1.6 million
   employees. That rollout will start with a beta test.

   The startup took shape with the acquisitions of Even Responsible
   Finance and One Finance. The startup is a neobank; checking and basic
   banking offerings will, ostensibly, pave the road for Walmart to offer
   investing and credit. In terms of the mechanics, One offers a digital
   banking account; Even Responsible Finance enables workers to access
   wages as they are earned.

   Read more: [5]Walmart’s FinTech Hazel Acquires Even and One to Build
   Finance Super App

   And in terms of the initial roadmap, Bloomberg reported that there
   would also be discounts on purchases, as the One app offers 2% back on
   money spent at drugstores, gas stations and in-store.

   Against that backdrop, we can posit a future where an employee (and
   eventually the public) could have paychecks deposited directly into
   Walmart-centered accounts, funds spent from those accounts and cash
   back from transaction making its way back into linked savings accounts
   — or funneled into investment holdings.

   The app then becomes a super app, a digital front door through which
   linked activities flow, sometimes simultaneously.

   In a recent PYMNTS/PayPal report on the state of and
   consumers’[6] desire for super apps, 41% of consumers reported they
   likely would increase their banking activities if they had access to a
   super app. And  50% of respondents said they use connected devices to
   make shopping more convenient. And, in further data that should pique
   the interest of would-be super app providers (Walmart among them),
   we’ve estimated that there would be 98 million “day one” users, as
   measured across Australia, Germany, the United States and the United
   Kingdom.

   The impetus is there, especially, for retailers to bring super apps to
   market, as these same consumers wield significant spending power. As
   seen in the research below, the annual spending of these “day one”
   users top $3.2 billion annually. By feeling more comfortable about
   their financial wellness, with transparency rendered in real time, the
   urge may be there to spend more time — and money — in the aisles.

References

   1. https://www.linkedin.com/in/omer-ismail-b6400824
   2. https://www.pymnts.com/digital-first-banking/2022/walmart-takes-first-step-to-launching-digital-bank-with-one/
   3. https://www.bloomberg.com/news/articles/2022-09-14/walmart-backed-startup-one-to-offer-bank-accounts-to-shoppers-workers?srnd=premium&sref=zNmRQ0gk&leadSource=uverify wall
   4. https://www.one.app/
   5. https://www.pymnts.com/acquisitions/2022/walmarts-fintech-hazel-acquires-even-and-one-to-build-finance-super-app/
   6. https://www.pymnts.com/study/super-app-shift-consumer-finance-shopping-connected-economy/#wpcf7-f1354519-o1