Walmart rolls out money transfer service powered by Ria

Friday 18 April 2014 07:52 CET | News

Walmart has launched the Walmart-2-Walmart money transfer service, which enables customers to transfer money to and from more than 4,000 Walmart stores in the US.

Walmart-2-Walmart offers a fee structure with only two pricing tiers: customers can transfer up to USD 50 for USD 4.50 and up to USD 900 for USD 9.50. Walmart-2-Walmart leverages the retailer’s existing footprint and technology and is powered by Ria, a Euronet subsidiary and a global provider of money transfers. Ria is the licensed money transfer operator for all Walmart-2-Walmart transactions, and Walmart acts as the authorized agent of Ria.

Almost 28% US customers are either underbanked or unbanked, with millions using money transfers as a critical part of maintaining household budgets or helping friends and family in times of crisis. Communities that rely on money transfers the most include members of the military or oil field workers who send part of their paycheck back to their families each week.

Walmart also provides other everyday money services such as check cashing, bill pay, money orders and tax preparation services, as well as prepaid card programs though the Walmart MoneyCard, and Bluebird, a checking and debit alternative. These services - and Walmart-2-Walmart - are available at the Walmart MoneyCenter or Walmart’s customer service desks.

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Keywords: Walmart, money transfer services, Ria, Walmart-2-Walmart
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce