Tag: mobile payments

Walmart mobile payments roll out in 19 new states.

Walmart Pay is available in approximately 3,700 of its stores across the United States. Although it failed to reach its initial goal of launching the payment service to every store by the end of June, it added close to 1,300 stores in 19 new states throughout last week. Now, the total number of states where the mobile payments service is available has reached 37 and also includes Washington D.C., reported Chain Store Age.

The digital wallet service rollout started back in May 2016.

The service was officially announced by the monster retailer back in December of 2015. Texas and Arkansas were the first states to receive the service. Walmart’s payment solution – which works via the retailer’s mobile shopping app – launched at 600 stores across both states back in May.

The 19 new states where Walmart Pay is now live include: Arizona, California, Colorado, New Mexico, Washington, Ohio , Idaho, Oregon, Pennsylvania, Maryland, Connecticut, Delaware, Maine, New Hampshire, New York, New Jersey, Massachusetts, Vermont and Rhode Island.

Walmart Pay has a massive built-in potential customer base.

Currently, Walmart’s mobile app has 22 million active users. With such a huge consumer base, Walmart Pay has plenty of potential for success.

The mobile payments service from Walmart is easy to use and is one of the options on the retailer’s mobile app. Consumer with the app can choose the payment option at checkout, which activates their smartphone camera. With their camera they scan the code displayed at the register. The scanned code will connect them to Walmart Pay. Once the transaction is complete, an e-recipe is sent to the app. Customer can view this e-receipt whenever they want.

In addition to their own digital wallet service, the American multinational retail corporation also intends to accept other forms of digital and mobile payments within its stores.

While certainly not the first to launch it s own mobile payments solution, Walmart’s decision to rollout Walmart Pay could prove advantageous for the company. Although consumers aren’t likely to obtain many merchant-specific payment apps, it is the largest Tier I retailers – like Walmart – that have the highest potential to experience the most success with these services.

According to Bank of America research, consumers are increasingly prepared to adopt this technology.

If Bank of America is correct, American mobile payments will be commonplace very soon. Their research suggests that consumers in the United States are increasingly ready to use this technology.

Mobile wallets are nothing new in the United States but they have yet to take off among most people.

Bank of America conducted a survey to gauge consumer opinions regarding American mobile payments. What they found was 40 percent of respondents were actively seeking out mobile wallets or already had them. This is a sizeable increase over last year’s figure. In 2015, only 34 percent of respondents felt the same way.

Clearly, there was a sharp increase in the number of actively interested Americans. This interest level is considered to be an important indicator of willingness to adopt the technology. That said, the respondents didn’t stop at simply looking into mobile payments technology.

The American mobile payments interest could move forward rapidly starting very soon.

The research determined that 57 percent of Americans would be willing to try or are already using a bank peer to peer (P2P) money transfer app.Also, 62 percent are already using mobile as their main banking method or would be willing to try it.

The active mobile app user numbers also climbed. Forty eight percent of respondents were using mobile banking apps in 2015. This year, that figure increased to 54 percent. Furthermore, Millennial interest in these mobile banking tools is very evident. That generation represents a growing proportion of shoppers as a whole. This makes their opinions on such matters highly significant.

Millennials use their smartphones more than any previous generation. In fact, 39 percent say they would prefer to interact with their mobile phones than anything or anyone else. This included their significant other! American mobile payment have the potential to become very important to this generation. Moreover, since they are one that is about to become the most important group of consumers, this information is important. After all, no matter what previous generations think, it is the Millennial opinion that will soon hold the most weight.