Walmart jumps into mobile payment fray with Walmart Pay
Walmart Pay is here. The retailer announced today that it has launched a means for shoppers to pay for purchases at its stores using their iOS or Android devices.
The new free payment option is being launched in select stores today with plans to go nationwide by the first half of next year. Walmart shoppers will open the retailer’s mobile app and choose Walmart Pay to activate their device’s camera. At any time during checkout, the shopper can scan a QR code displayed at the register and be connected. The cashier then completes bagging the customer’s purchases and an e-receipt is sent to the app.
"The Walmart app was built to make shopping faster and easier," said Neil Ashe, president and CEO of Walmart Global eCommerce, in a statement. "Walmart Pay is the latest example — and a powerful addition — of how we are transforming the shopping experience by seamlessly connecting online, mobile and stores for the 140 million customers who shop with us weekly."
According to Walmart, 22 million customers actively use its mobile app every month.
"We made a strategic decision to design Walmart Pay to work with almost any smartphone and accept almost any payment type — even allowing for the integration of other mobile wallets in the future," said Daniel Eckert, senior vice president, services, Walmart U.S.
Speaking of mobile wallets, Walmart, according to Reuters, has not given up on the CurrentC project, which began beta testing last summer. The chain is part of MCX, a consortium of retailers that are behind CurrentC, which is typically mentioned in the press as a being a rival to Apple Pay.
According to an article on the Forbes site by Mark Rogowsky, the introduction of Walmart Pay is the equivalent of the retailer dropping a "bomb" on MCX. Walmart, according to the piece, has "essentially taken the technology behind MCX and rolled out a single-merchant version for its own stores."
- Walmart Introduces Walmart Pay – Walmart
- Wal-Mart enters mobile payment with launch of Walmart Pay – Reuters
- Walmart launching mobile payments in stores – USA Today
- Walmart Drops An Atomic Bomb On Its Apple Pay Competitor – Forbes
- Walmart wants you to pay through its mobile app – Engadget
What will the introduction of Walmart Pay mean for the retailer’s store operations and customer base? What will it mean for MCX and CurrentC?