Walmart continues expanding its financial services.
The discount giant, which recently announced plans to launch a fintech start-up designed to offer “modern, innovative and affordable financial solutions” to customers and employees with fintech investment firm Ribbit Capital, is now partnering with Western Union. For the first time, Western Union money transfer services will be available at all 4,700-plus Walmart locations across the U.S.
The services will include domestic and international money transfers, bill payments, and money orders. Walmart intends to begin rollout in the spring of 2021. Through Western Union’s global cross-border, cross-currency platform reaching 200 countries and territories worldwide, Walmart customers will have the ability to move money almost anywhere across the world. Customers will have the option of their money transfers being paid out in minutes across more than 550,000 retail locations or into billions of bank accounts, wallets or cards.
Western Union is no stranger to financial services partnerships with retailers. Walmart Canada has actually offered in-store access to Western Union money transfer and bill payment services since 2007.
Other U.S. retailers with existing partnerships that offer Western Union services in their stores include Walgreens, Kroger, and Dollar General. Amazon enables cash payment for online orders in a number of developing nations using Western Union services.
“Walmart is much more than a place where customers shop. To millions, it’s also a place they trust for their financial needs as well,” said Wilbert Noronha, VP of financial services at Walmart. “We’re thrilled to soon begin offering Western Union money transfer services at Walmart locations nationwide and, together, continue connecting family and friends worldwide through Western Union’s global money movement platform.”
"We are excited to work together with the world's largest retailer, Walmart, and bring the best of our money movement and payments service capabilities to even more customers in the U.S. and worldwide,” said Jean Claude Farah, president, global network at Western Union. "Together with Walmart, we have a shared purpose of supporting our customers who rely on us to send money to make everyday purchases including essentials like health care and groceries. In an age when speed, security, convenience and trust mean everything, we are offering customers greater ease, reliability, access and confidence with every transaction.”