Log in or Register for enhanced features | Forgotten Password?
White Papers | Suppliers | Events | Report Store | Companies | Dining Club | Videos
General Retailers
Department Stores
Return to: RBR Home | General Retailers | Department Stores

Walmart to launch ‘Walmart Pay’ mobile payment service in stores by early 2016

Published 10 December 2015

US-based department store chain Walmart is planning to offer shoppers the option to pay through their smartphones with the introduction of its mobile payment services, christened Walmart Pay. The payment service is slated to roll out across 4,600 stores in early 2016.

Walmart service

The move signals the retailer's efforts to make its presence felt among the tech companies such as Apple, Samsung, Google, which have been offering varied consumer convenience payment services.

The new service will be added to its existing mobile app to enable consumers to pay at the register with payment information stored in Walmart.com account. The payment can be made using their debit cards, credit cards or gift cards.

Walmart has actually been slower to adopt the payment technology as compared with other large retailers.

The technology helps consumers pay through their phones in stores. The slow adoption of the technology comes as Walmart did not see the need with many of its customers not having any qualms in making payments using their cards directly in stores. Noting the consumer trends, the company did not rush to move away from credit and debit payment options. Walmart did not even activate the NCF technology, which is needed to use ApplePay and other similar payment systems, reports The Wall Street Journal.

However, the department store chain has now arrived at a decision to introduce its own payment service as it noticed that the other systems would function only on particular smartphones or allow users to pay using only select credit or debit cards.

Wal-Mart US services head Daniel Eckert was quoted by The Wall Street Journal as saying: "Wal-Mart wanted to create something that allows customers to use any credit, debit, prepaid card, just as they would normally do if it were plastic."

Walmart Pay enables customers to scan a QR code using the app and camera feature which helps connect to the payment cards which are present in the accounts of Walmart.com. Users can also make part payment using cash along with the mobile payment, The Wall Street Journal reported.

Daniel Eckert said that there is a possibility in near future of the app being integrated with other mobile payment systems such as CurrentC and Apple Pay.

Image: Walmart to launch mobile payment service next year. Photo: Courtesy of User:Sven/Wikipedia.