Two huge global entities, Walmart and Western Union today announced a new agreement that will, for the first time, enable Western Union money transfer services at Walmart locations across the U.S. bringing greater choice and value to millions of customers. In simple terms, Walmart and Western Union are entering into an agreement together to offer in-store payments and transfers. The services will include both domestic as well as international money transfers, bill payments, and money orders. The global Services will be offered at more than 4,700 Walmart brick-and-mortar stores with a rollout planned to begin in the spring of 2021.
“Walmart is much more than a place where customers shop. To millions, it’s also a place they trust for their financial needs as well,” Wilbert Noronha, vice president of financial services at Walmart, said in a press release on Tuesday (Jan. 19).
Jean Claude Farah, the President of global money movement platform –Western Union believes that this integration with retail giant Walmart will enable them not only to bring the best of their money movement and payment service capabilities but also its expand its consumer services across the country and globe.
Western Union enables cross-currency, cross-border transfers in 200 countries and territories. The tie-up with Walmart gives people the ability to transfer funds to family and friends almost anywhere. Customers can receive funds in cash or have them transferred directly into a designated bank account.
The world’s largest retailer, Walmart provides transparent financial services to its customers through the providers they want. Millions of Americans rely on Walmart’s transparent, Everyday Low Price strategy to help customers conduct essential financial activities through a marketplace offering. With the addition of Western Union, Walmart customers will be presented with more choice, convenience, and access than ever before. It said that since 2014, it has saved people in excess of $1.5 billion across its financial services offerings.
“Together with Walmart, we have a shared purpose of supporting our customers who rely on us to send money to make everyday purchases, including essentials like healthcare and groceries. In an age when speed, security, convenience, and trust mean everything, we are offering customers greater ease, reliability, access, and confidence with every transaction,” Farah said.