Saturday, April 07, 2018 4:00:47 AM
Less than 1 percent of Walmart's annual net sales came from fuel and financial services, which includes wire and money transfers. Companies like Western Union and MoneyGram, meanwhile, have built their businesses entirely around the idea.
Walmart is now launching a global money transfer service called Walmart2World in a partnership with MoneyGram International. The service is scheduled to roll out to all of Walmart's 4,700 US stores, on Walmart.com, and to the Walmart mobile app later this month(April).
Walmart2World will allow customers to relay funds to people in more than 200 countries. With this service, the retailer aims to serve the roughly 2 billion individuals across the globe who the World Bank's Global Findex database classifies as unbanked. Common uses for wiring money include paying bills and remitting money to families or friends overseas.
Walmart2World will charge an individual $4 to send up to $50, $8 to send amounts between $51 and $1,000, and $16 to send $1,001 to $2,500. And unlike some other international transfer services, Walmart's fees will remain the same regardless of where the sender and receiver are located. In addition, Walmart2World also promises delivery of funds in 10 minutes or less, unlike some services that can take as long as three days. MoneyGram's network of agents across the globe will help serve the populations where Walmart doesn't always have a presence. (recommend FuninUSA to know more about global companies’ service)
Speed and low, stable prices will be the absolute advantages of Walmart when it expands the scope of business in money transfer. Does the charge seem a good price for you? Will Walmart’s stock price reach relatively higher because of this new service?
Recent WMT News
- Walmart Unveils its Holiday Plans with Early Shopping Deals and Affordable Meals • Business Wire • 09/19/2024 04:01:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/18/2024 08:46:23 PM
- Meta Strengthens Child Privacy on Instagram; Google Overturns $1.7 Billion Antitrust Fine; Snap Updates Spectacles • IH Market News • 09/18/2024 10:13:07 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/17/2024 09:27:42 PM
- Sam’s Club Reimagines Workforce Compensation; Launches New Plan Focused on Providing More Predictable Financial Futures for Hourly Associates • Business Wire • 09/17/2024 02:07:00 PM
- Microsoft Boosts Share Buyback, Raises Dividends by 10%, Intel Secures Chip Deal with Amazon • IH Market News • 09/17/2024 10:40:35 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/16/2024 08:17:21 PM
- Form SC 13G/A - Statement of Beneficial Ownership by Certain Investors: [Amend] • Edgar (US Regulatory) • 09/16/2024 08:09:38 PM
- Intel Secures $3.5 Billion Subsidy, Stellantis Backs EU Emissions Targets, BP and Apollo Reach $1 Billion Deal • IH Market News • 09/16/2024 10:03:27 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/13/2024 09:46:15 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/13/2024 09:43:15 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/13/2024 09:38:31 PM
- OpenAI Unveils Strawberry AI Model Series; Boeing Stock Falls 4% Amid Strike; HR Surges 20% on Growth Forecast • IH Market News • 09/13/2024 10:12:55 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/12/2024 08:32:15 PM
- Walmart Raises the Bar for Inclusive Shopping with Specialized Caroline's Carts in Tennessee • Business Wire • 09/12/2024 12:00:00 PM
- Walmart Raises the Bar for Inclusive Shopping with Specialized Caroline's Carts in New Mexico • Business Wire • 09/12/2024 12:00:00 PM
- Walmart Raises the Bar for Inclusive Shopping with Specialized Caroline's Carts in Kentucky • Business Wire • 09/12/2024 12:00:00 PM
- Walmart Raises the Bar for Inclusive Shopping with Specialized Caroline's Carts in Colorado • Business Wire • 09/12/2024 12:00:00 PM
- Walmart Raises the Bar for Inclusive Shopping with Specialized Caroline's Carts in Alabama • Business Wire • 09/12/2024 12:00:00 PM
- Walmart Raises the Bar for Inclusive Shopping with Specialized Caroline's Carts in Arizona • Business Wire • 09/12/2024 12:00:00 PM
- Walmart Raises the Bar for Inclusive Shopping with Specialized Caroline's Carts in Louisiana • Business Wire • 09/12/2024 12:00:00 PM
- Walmart Raises the Bar for Inclusive Shopping with Specialized Caroline's Carts in Oklahoma • Business Wire • 09/12/2024 12:00:00 PM
- Walmart Raises the Bar for Inclusive Shopping with Specialized Caroline's Carts in Arkansas • Business Wire • 09/12/2024 12:00:00 PM
- Walmart Raises the Bar for Inclusive Shopping with Specialized Caroline's Carts in Texas • Business Wire • 09/12/2024 12:00:00 PM
- Walmart Raises the Bar for Inclusive Shopping with Specialized Caroline's Carts in Missouri • Business Wire • 09/12/2024 12:00:00 PM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM