Walmart Pay Transactions Soar amid Nationwide U.S. Rollout
Walmart has rolled out its mobile payment service to all of its 4,600 U.S. stores. And although some analysts are skeptical the service will attract shoppers, the retailer is reporting a 45 percent jump in transactions already.
Walmart introduced the service in Texas and Arkansas last May. Walmart Pay works with any iOS or Android device at any checkout lane and with any credit, debit, prepaid or Walmart gift card users load into the Walmart mobile app.
“We’re connecting all the parts of Walmart into one seamless shopping experience with great stores, easy pickup, fast delivery, frictionless checkout and apps and Websites that are simple to use,” said Daniel Eckert, senior vice president, services, Walmart U.S.
In addition to its increase in transactions since rolling out nationwide, the retailer also said 88 percent of Walmart Pay transactions come from repeat users, and that four of five customers recommend using the technology. The retailer’s mobile app, of which Walmart Pay is part, has about 20 million active users, according to the retailer.
Walmart Pay also enables consumers to access discounts, locate items in stores and access baby registries and wish lists. That said, some analysts wonder if the mobile payment service offers enough incentives—such a loyalty program tied to the mobile app—to get customers to use their phones at checkout instead of credit and debit cards. “There’s got to be something in there that would get consumers to use it,” said Brendan Miller, an analyst at Forrester Research, according to Bloomberg News. Otherwise, “I can just pull out my credit card and swipe it.”
Walmart is part of the MCX retailer consortium, which also includes Target, Best Buy and other big-name retailers. Recently, MCX announced it was ending the beta test of its mobile payments service CurrentC in favor of focusing on partnerships with financial institutions.