Walmart and Western Union have announced a new agreement that will, for the first time, enable Western Union money transfer services at Walmart locations across the US.
The services will include domestic and international money transfers, bill payments and money orders. They will be available at more than 4,700 Walmart stores with a rollout planned to begin in the spring of 2021.
Through Western Union’s global cross-border, cross-currency platform reaching 200 countries and territories worldwide, Walmart customers will have the ability to move money to family and loved ones almost anywhere across the world.
Customers will have the option of their money transfer being paid out in minutes across more than 550,000 retail locations or into billions of bank accounts, wallets, or cards.
Offering “more convenience and access”
Millions of Americans rely on Walmart’s transparent, Every Day 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.
“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,” said Wilbert Noronha, vice president of financial services at Walmart.
“For more than 20 years, Walmart has worked to provide the financial services their customers need through the providers they want, all at transparent prices,” the company said.
“Huge saving for customers”
Since 2014, Walmart has also saved customers more than $1.5bn across its marketplace financial services offerings, the company said.
The collaboration between Walmart, the world’s largest retailer, and Western Union, a global player in cross-border, cross-currency money movement and payments, continues the two companies’ long-standing commitment to provide value and further financial inclusion for customers.