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.
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.
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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.