. The service lets consumers send funds via Walmart.com, its app, and its 4,700 US stores, and adding Ria should enable it to offer more payout methods and locations as well as more competitive foreign exchange rates.Walmart has a preexisting relationship with Ria, as the two have collaborated on Walmart2Walmart, its domestic money transfer service that launched .
For Walmart, this furthers its efforts to blend retail and financial services in a way that could benefit its overall performance. The firm recently that it's establishing a fintech accelerator in collaboration with long-time partner Green Dot that will target the intersection of retail shopping and consumer financial services, and the expansion of Walmart2World could also help it find ways to capitalize on that overlap.
The service can bring consumers to its stores and digital channels, which can give Walmart more opportunities to make sales. Additionally, because Walmart is making Walmart2World a marketplace — possibly in an effort to make its exchange rates lower due to competition — it matches Walmart's low-price value, creating a more cohesive set of retail and financial offerings.
Having to compete with Ria could hurt MoneyGram, and the marketplace concept could open the door to more direct competition with digital upstarts in the industry. Walmart2World may have been helping grow MoneyGram's US business, which has been struggling, but now it may not perform as well on the marketplace. Its money transfer revenue has been
How about better security first
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »