Walmart in no hurry to add other mobile payment options
Walmart Pay, the retailer’s answer to Apple Pay and other mobile payment apps, is now available in all 4,600+ of its U.S. stores. Based on early results, it does not appear as though the chain is going to be offering its customers any competitive options in the near future.
According to an infographic published by the retailer:
- Three out of four customers have given Walmart Pay a five-star rating;
- Four out of five would recommend using it.
The chain reported a 45 percent increase in Walmart Pay transactions over the last week (it did not provide an absolute number). Walmart also said 88 percent of transactions are coming from repeat users.
“There is something very powerful about the ease and simplicity of Walmart Pay,” said Daniel Eckert, senior vice president, services, Walmart U.S. “What’s even more powerful, though, is what this means for our customers. We want to make every day easier for busy families. We’re connecting all the parts of Walmart into one seamless shopping experience with great stores, easy pickup, fast delivery, frictionless checkout and apps and websites that are simple to use.”
Walmart has emphasized the security of Walmart Pay, which is part of the company’s mobile app. Payment details are not stored on customers’ phones and none are exchanged at the checkout.
While the retailer is touting the benefits of Walmart Pay and its evolution as a customer-focused business, others are less impressed.
“Credit cards are incredibly easy to use; you simply dip or swipe,” David King, senior manager in the internal audit, risk and compliance practice at UHY Advisors, told Bankrate. “Apple Pay is almost as easy, but requires some practice. Walmart Pay is the least intuitive because you have to trigger an app and complete a scan through a barcode reader.”
An article on the Computerworld website followed the same logic, questioning why the retailer is emphasizing ease of use when other payment options are simpler to use than Walmart Pay. It also points out that Walmart Pay only works at Walmart.
- Walmart Pay Now Available in all Walmart Stores Nationwide – Walmart
- Walmart Pay: So good or so what? – Bankrate
- Walmart Pay vs. Apple Pay: Hardware age dictates all – Computerworld
DISCUSSION QUESTIONS: Do you expect Walmart Pay will be a winner for the retailer? If you were in charge of Walmart Pay’s development, what would its next generation look like? How do you see Walmart Pay fitting into the evolution of Walmart as a retailer?