Amazon, Google, Walmart Urge Fed to Get Going on Faster Payments

Some of the U.S.’s largest retailers, tech companies and fintech players want the Federal Reserve Board to make money as easy to send as an email.

For the likes of Amazon.com Inc., Walmart Inc., Alphabet Inc.'s Google, and Square, Inc., that could mean opening up the Federal Reserve system to more competition in the payments space.

“The lack of real time payments results in many lost opportunities for American consumers and businesses as the ‘financial payments chain’ lags ‘physical supply chain’ in many cases,” Google said in a Dec. 13 comment letter.

The letters were in response to the ...