Walmart’s Efforts To Reduce Electronic-Payment Costs

Walmart Stores Inc. has recently partnered with J.P. Morgan Chase and Co., aiming to minimize costs associated with electronic payments. This year, Walmart Store Inc. is going to offer Chase Pay service, enabling shoppers make payments at Walmart.com and via Walmart app, as well as the Walmart Pay mobile service that consumers can enjoy in stores.

Walmart Offers

All this is the result of Walmart’s strategy focused on finding ways to reduce fees it pays for debit and credit card payments. According to Chase, merchants who use its payments suits would be able to pay lower fees for processing multiple card transactions.

Moreover, Walmart is a valuable partner of card networks. Walmart customers won’t be deprived of the opportunity to make payments with cards, including payments via one-click web or mobile buttons. This also refers to MasterCard Inc.’s Masterpass and Visa Inc.’s Visa Checkout. In addition, customers will be able to use Walmart’s own cards with Visa and MasterCard.

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Walmart and Chase

The integration with Walmart is part of Chase Pay rollout. The latter is designed to work both inside merchants’ apps and websites and in Chase Pay app. The service was rolled out earlier.

It is interesting how Walmart will encourage credit-card users to change their habits. According to the analysis in the field, the top successful retailer app introduced by Starbucks Corp. offers unique features that attract customers. These include easy-to-use reward points and the ability to order coffee ahead of time that allows for skipping the line. A Walmart spokesman didn’t give any comment on how the retailer will encourage shoppers to use Chase Pay.

It is important to note that the battle between retailers and credit-card networks still exists. In September 2016, Walmart put a ban on Visa cards in some of its Canadian stores because of some issues concerning fees.

 

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