Walmart is expanding its growing portfolio of financial services.
The retail giant is teaming up with a payments platform and financial technology company to let customers make cash bill payments to utility companies and other billers at select Walmart stores.
Effective August 2021, users of the PayNearMe mobile payments app will be able to complete bill payment transactions using cash at the participating Walmart locations. To use the service, Walmart customers will show an associate at the store’s money services or customer service desk a scannable code on their smartphone, pay with cash, and collect a receipt that confirms the payment is completed. Funds will then transfer to the biller electronically through a single consolidated settlement.
To provide this joint service with Walmart, PayByMe is expanding upon an existing partnership with financial technology provider Green Dot. Other retailers including 7-Eleven also offer in-store cash bill payment via PayByMe, and the company plans to launch services at additional retailers in the Green Dot Network through their expanded partnership.
“Nearly a quarter of the U.S. population prefers – or needs – to pay their bills in cash, and when these individuals can pay their rent, car payments and utility bills in the same location where they shop, paying bills on time becomes easier and more convenient,” said Michael Kaplan, chief revenue officer and GM, PayNearMe. We’re excited to offer more PayNearMe locations for consumers to make cash payments.”
“We are always looking for opportunities to deliver modern and seamless banking and money management solutions that create exceptional experiences for our customers and partners,” said Brandon Thompson, executive VP of retail, tax and paycard, Green Dot. “We’re proud that millions of Walmart shoppers can now pay bills with cash in store, an essential offering for this customer made easier by our partnership with PayNearMe.”