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Walmart Plans to update Its app to ease money transfers
The world’s largest multinational retailing giant Walmart announced this week that they will update its mobile app to allow customers to fill in their personal information electronically instead of filling out paperwork in the store while sending money.
The company said that customers, once they arrive at Walmart store, can proceed to use an express lane to complete their money transfers. Here, they can go to the register, scan a bar code, verify whether their money transfer information is correct and then proceed to make payment.
The company said in a press release that this new feature will be made available to Walmart customers this month. The management also revealed that the feature will be available in almost all of its 4,800 retail stores by the end of this year.
The express lanes will be rolled out at around 1,200 retail stores that provide money transfer services. The remaining retail stores without express lanes will continue to process money transfers at the customer service desk.
For several years, Walmart has tried to obtain a banking charter without success. However, this has not prevented this multinational retailing giant from making process in the financial field. The has made admirable progress such as developing a state of the art suite of financial products, including credit products, prepaid debit cards, and money transfers.
Also in Money Transfer
WorldRemit announced recently that they have joined hands with JazzCash Mobile Money to boost money transfer services to Pakistan. The partnership, through instant mobile remittance, will enable over 9 million Pakistani expatriates currently living and working abroad to send money to their loved ones or friends in Pakistan.
The Global Business Development Director at WorldRemit, Mr. Bryce Currie, commenting on this partnership, said,
“WorldRemit is planning to facilitate more than 580,000 money transfers transactions to Pakistan every month. Our partnership with JazzCash Mobile Money will eliminate the hassle of waiting for several days to receive money from overseas. Now, WorldRemit customers can send money to their loved ones and friends in Pakistan with just a few clicks on their mobile phones. Any amount sent through this platform will be collected as Mobile Money by a Pakistani beneficiary on the same day.”
The Chief Digital & Financial Services Officer at Jazz, Mr. Aniqa Afzal Sandhu, also added,
“Remittances from overseas play an important role in the growth of Pakistan’s economy. According to the report released by the State Bank of Pakistan, Pakistani expatriates currently living and working abroad remitted more than $20 billion last year. By partnering with WorldRemit, we aim at making it easier for the locals who rely on financial support from abroad to receive money to run their households.”
The decision to bring JazzCash on board follows WorldRemit survey which found that Pakistanis are rapidly switching from the old method of sending money using a local agent to using faster and safer online money transfer methods.
WorldRemit is an online money transfer company based in London available in more than 50 countries and 140 destinations. Sending money to most countries using WorldRemit’s online system is instant just like a text message. Recipients can receive via cash pickup, bank transfer, Mobile Money or mobile airtime top-up.
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