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.
Greggs already offer this in the UK (via an app). Free Breakfast (roll and coffee) when you top up £10. Free coffee for 7 rather than 10 purchases compared with the stamp card.
If using a cheap Android phone (rather than Apple pay) staff seem to get confused and are unable to put it through the till- I got a free lunch when this happened to me.
i think the Gregg’s card is more like a “pre-paid card”, ie, you top it up and use the balance.
Walmarts is more like a wallet, you actually input your card details (one or all of them) to Walmart, then you can use your phone like your bank card, no top up required, its linked direct to your bank.
for a company that size, every little really does help.
what would 2.5% (card fees) of Walmart’s turnover be? enough for a custom payment system which avoids a large chunk of that cost i’m sure.