Retail behemoth Walmart recently finished rolling out its mobile wallet Walmart Pay across the U.S. The mobile payment system, which was integrated into Walmart’s existing app, launched in late 2015.
Walmart Pay centers on a QR code checkout process. Users open the Walmart app, choose Walmart Pay, activate the cameras on their mobile devices and scan the codes displayed at the points of sale (POS). Sales automatically generate electronic receipts which are then sent to the app.
When Walmart Pay was first introduced, Walmart’s existing app had 22 million users per month and consistently received a top-three ranking among retail apps in both iOS and Android app stores. Since completing nationwide deployment, Walmart Pay reports repeat users are responsible for 88 percent of transactions.
Although Walmart Pay is now available at more than 4,500 stores in all 50 states, Walmart still faces some barriers in achieving its aspirations for the mobile wallet. Currently, there are no plans to distribute Walmart Pay to other organizations. Additionally, by creating the payment portion as a “value-added” feature to its existing app, Walmart leaves no doubt the wallet is designed to support and grow its own network.
