Walmart rolls out Walmart Pay across all US stores

Announced in December, Walmart Pay is pitched as a free mobile-payment service for use in the retail giant's stores.
Written by Natalie Gagliordi, Contributor

Walmart said it has made the mobile payment app Walmart Pay available in more than 4,600 Walmart stores nationwide.

Announced in December, Walmart Pay is pitched as a free mobile-payments service for use in the retail giant's stores. It allows payments on Apple and Android devices with almost all major credit cards, debit cards, pre-paid cards, and even Walmart gift cards.

The service is void of near-field communication (NFC) compatibility, so users must go inside Walmart's mobile app and activate Walmart Pay in order to initiate and complete a purchase.

Luckily for Walmart, the retailer already counts 24 million registered users for its mobile app, which probably has helped on the adoption-front. The retailer said Wednesday that transactions via Walmart Pay have increased 45 percent in just the last week.

Walmart's decision to launch Walmart Pay has been seen as a retaliation against the payment networks, as well as sign that Walmart's ties to CurrentC -- a mobile-payment system created by the Merchant Customer Exchange (MCX) with the backing of a consortium of major retailers including Walmart, Target, and Lowe's -- were all but gone.

The move also set Walmart on a similar path as Starbucks, which integrated a proprietary mobile-payment service into its own app with much success. Other retailers like Target have also decided to develop their own mobile-payment systems, but even then, mobile payments have yet to really take off. Forrester predicts that by 2019, mobile payments will account for just 1 percent of all payment transactions.

SEE ALSO: How Walmart's launch of Walmart Pay could change the mobile payments game | Home Depot sues Visa, MasterCard as PIN battle looms | Walmart Pay rolled out across 600 stores in Texas and Arkansas | Wal-Mart CEO: Our e-commerce growth is too slow | Like Walmart, Target thinks we need more mobile payment apps; they're both wrong

Editorial standards