Walmart Announces Its Mobile Payment Solution

In an announcement today, Walmart unveiled its new mobile payment solution.

Daniel Eckert, SVP of services for Walmart U.S., explained when Walmart looked at mobile payment solutions that were available, many were limited to specific types of phones or operating systems or only to certain payment types.
“We needed a solution that offered mobile payment access to as many of our customers as possible. The result was Walmart Pay,” Eckert said. He also explained the motivation behind creating the new solution: “It’s not about improving payment. It’s about how we can use payment to create a better shopping experience for our customers in our stores.”

Walmart Pay works with almost any smartphone and payment type including major credit cards, debit cards, prepaid cards, and gift cards. Eckert pointed out that with the launch, Walmart is the first retailer to offer its own mobile payment capability that works with any iOS or Android device and any payment type.

Neil Ashe, president and CEO of Walmart Global eCommerce said in the announcement, “The timing couldn’t be better to share this news, given what we saw over the holiday weekend. Millions of our customers use their smartphones to simplify their shopping experience.” He said almost half of Walmart shoppers used mobile devices to purchase their online orders — doubled from last year. Ashe said shoppers also used the Walmart app at twice the rate as last year. And those customers accustomed to using the app can now use it to pay with Walmart Pay.

Eckert said Walmart Pay enables a customer to use multiple payment types — for example, a shopper could pay for part of a transaction with cash and the balance with the app — and to set preferences, such as  always using gift cards first before paying with a credit or debit card. He added that it has been “designed to allow for integration of other mobile wallets in the future as these capabilities mature in the market place.”

Ashe said Walmart Pay will be available at select locations this month and will be launched nationwide in the first half of 2016. “Soon, customers can leave home with only their keys and a smartphone to shop at Walmart,” he said.

To watch an introductory video, click here.