Mobile Payment Processing – New Walmart Pay Stats

Jul 20, 2016

Walmart Pay was first launched in December 2015. It is now officially available in all 4.600+ Walmart stores across the US. Walmart Pay is developed to provide a more inclusive in-store shopping and payments experience to its customers.

Walmart Pay

The QR code used in the checkout process is not used for payment processing. In fact, it provides consumer authentication to the app. Walmart Pay doesn’t store card data on the user’s mobile device as transactions are processed online via the Walmart.com app.

Daniel Eckert, SVP of Walmart Services, highlights Walmart Pay aims to improve the checkout process and not just payment. It enables the customer to get rid of the friction at checkout, even when using a physical card. Eckert says that Walmart Pay is built with flexibility in mind.

Eckert notes that Walmart Pay is just the beginning. They are setting up deeper relationships with their customers across their ecosystem aiming to provide new tools such as Walmart Pay. The latter allows customers to use the Walmart app as their remote control to have a faster and more convenient shopping experience.

Given the importance of electronic payments in eCommerce, it is critical to turn to only a reliable payment processor like eMerchantBroker. EMB is the top high risk merchant account provider in the US and has an A+ rating with the BBB.

The Key Stats Released by Walmart

As Eckert notes, Walmart Pay is all about saving time, and time serves as a new currency for busy families. Everyday low pricing provided by Walmart has already saved money for the 140M consumers.

When Walmart Pay was first launched, Eckert revealed the results provided by a comScore study. According to the results, each day, over 20M+ consumers use the Walmart.com app when in the store to find products and check prices. According to the latest Walmart Pay statistics:

  • 88% of Walmart Pay transactions come from those customers who have already tried it at least once
  • 82% of customers recommend using Walmart Pay
  • 75% of customers have given 5 stars to Walmart Pay in the Walmart app

Importantly, Walmart Pay transactions have grown 45% within the last week. Eckert notes they focus on making every day easier for busy families by delivering frictionless checkout, easy pickup, fast delivery, and user-friendly apps and websites.

Walmart Pay’s value was created to go beyond checkout to encompass the organization of various tender types, unused gift cards, and Savings Catcher balances. Walmart Pay is compatible with an iOS or Android device or on any other mobile phone that can download the Walmart app.

Let us help you get a high risk merchant account today!

Get Started

Award winning.

  • 2012
  • 2013
  • 2014
  • 2015
  • 2016

Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

Live Chat