Walmart Pay enters the mobile payment market

Walmart Pay is now available in the retailer’s mobile application and usable across numerous devices as well as credit, debit, prepaid and gift cards. The news could significantly redraw the mobile payments landscape, which, so far, has been dominated by technology companies and Starbucks.

To use Walmart Pay, customers open the app at checkout, activate the scanning capability and scan a unique QR code that appears on the debit reader or on the self-checkout registers.

The app connects the customer’s basket to his or her preferred payment method on Walmart.com, effectively bringing the Web into the store checkout experience.

Users can choose from multiple payment types and set up specific payment preferences. For example, customers can set up their accounts to use any gift card balances first before touching a credit or debit card.

Shoppers can also choose to pay for part of their purchase via cash at the register and the rest via Walmart Pay.

What`s more, customers who are already using the Walmart app or have a Walmart account can open the app, login and tap Walmart Pay. The app will pull down any existing payment types already associated with the account, with users able to pick which they want to use as a default for Walmart Pay.

Following the rollout in a few stores, Walmart Pay will begin a beta launch in select markets across the country soon after the holidays, with Walmart expecting to complete a national rollout in the first half of 2016.