Walmart launch Walmart Pay for instore purchases
Walmart, the largest retailer in the world, have just introduced their own payment wallet – Walmart Pay.
This on the face of it is a strange move, a one retailer payment solution which can’t be used anywhere else, but then Walmart do have an enormous customer base who could adopt the new service.
Walmart can now claim to be the only retailer to offer its own payment solution that works with any iOS or Android device, at any checkout lane, and with any major credit, debit, pre-paid or Walmart gift card. It’s not quite as cute as Apple Pay as it’s not an NFC solution; with Walmart Pay you need to scan a QR code at the checkout, but unlike Apple Pay Walmart will send a fully itemised receipt to your smartphone. That’s the advantage of having a fully integrated single retailer solution.
The Walmart app is already used by 22 million customers and Walmart Pay will start rolling out to stores from next month. As well as storing your credit cards, it can also hold your shopping list, drug prescriptions and gift cards.
What we’re waiting to see is if Walmart Pay will emerge as Asda Pay in the UK (somewhat doubtful, we know that UK banking regulations are very different to the US so compliance costs would be high). It will also be interesting to see if Walmart Pay will be adopted by any other retailers or if it will remain a single retailer payment solution.