Walmart consumers now using Walmart Pay mobile payment system

4 August 2016

Walmart PayWalmart, an Arkansas-based largest retailer in the world, started offering mobile payments through its own service to be known as Walmart Pay. An executive of the company says that consumers no longer want to use cash and want to abandon their wallets in favor of their smartphones. 70 stores in New Jersey are now providing the mobile payment service enhancing consumer satisfaction with the convenient transactions.

Apart from the transaction convenience mobile payment technology helps retailers and merchants collect information about the habits of their customers and built their loyalty programs on such data to sell more products and with higher efficiency.

Consumers express their great satisfaction with the newly launched Walmart Pay service as they don’t need to go to their banks to take their own cash from there, standing in the lines and paying fees.

22 million consumers of Walmart have so far downloaded the mobile application on their iPhone or Android devices. During registration they have to disclose their credit card information and additionally set an identification number or a fingerprint authentication.

Consumers may use the application for the store navigation, see the history of their purchases and join the company’s savings program ensuring lower prices during their next shopping.

According to researches mobile payments are expected to grow to 34 billion US dollars in 2019 from 6.8 billion last year.

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