Walmart Launches Own Mobile Payment System ‘Walmart Pay’

Walmart on Thursday introduced its own payment solution ‘Walmart Pay’, compatible with any iOS or Android device and with any major credit, debit, pre-paid or Walmart gift card, the company said in a press release. It is a fast, easy and secure way for customers to pay with their smartphones in Walmart stores.

“With this launch, Walmart becomes the only retailer to offer its own payment solution”, the company said.

The payment solution is integrated into Walmart app that ranks among the top three retail apps in the Google and Apple app stores. With Walmart Pay, the company hopes to improve how customers check out and “dramatically” expand mobile payment access.

“The Walmart app was built to make shopping faster and easier,” said Neil Ashe, president and CEO of Walmart Global eCommerce. “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.”

Reuters explained that to use this feature, customers need to choose Walmart Pay within the retailer's mobile app at a checkout counter, activate their phone camera and scan the code displayed at the register after which an e-receipt will be sent to the app and can be viewed any time.

The retail giant said that the mobile payment feature will be introduced in select stores beginning this month, with a nationwide launch to be complete by the first half of 2016.

“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.