Walmart starts new money transfer service
Apr 17, 2014, 11:51 am
#1
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Walmart starts new money transfer service
Who knows what will come of it, but kind of interesting:
http://bizbeatblog.dallasnews.com/20...oneygram.html/
http://bizbeatblog.dallasnews.com/20...oneygram.html/
Apr 17, 2014, 12:08 pm
#3
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Apr 17, 2014, 12:10 pm
#4
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They're not selling MOs. They're offering money transfer services at their stores.
http://blog.walmart.com/money-transf...prices-for-all
"Walmart-2-Walmart offers a simple and transparent fee structure with just two price points: customers can transfer up to $50 for $4.50 and up to $900 for $9.50."
Just looking at the price structure, it doesn't appear to be a MS material/vehicle.
http://blog.walmart.com/money-transf...prices-for-all
"Walmart-2-Walmart offers a simple and transparent fee structure with just two price points: customers can transfer up to $50 for $4.50 and up to $900 for $9.50."
Just looking at the price structure, it doesn't appear to be a MS material/vehicle.
Apr 17, 2014, 12:17 pm
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Apr 17, 2014, 7:56 pm
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Apr 18, 2014, 5:40 am
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Walmart-2-Walmart: MG/WU competitor
Article in WSJ about Walmart's new money transfer service to rival MoneyGram and WU:
First things first:
1) Yeah, it's super expensive compared to other MS.
2) No word on how to buy these (assume DB/cash only).
I'm not advocating this as the next best thing in MS, but wanted to share this with those who follow the industry as I do.
The key takeaway here is this means WMT is expanding it's financial services footprint, and doing so by reducing the costs of existing methods in the market. This is GOOD NEWS for us. This is even better news, of course, if you actually use services like MG or WU to send money to family and friends.
You can read the article in full here.
The giant retailer on Thursday unveiled the new service, Walmart-2-Walmart, which will allow customers to send and receive up to $900 at a time at more than 4,000 stores. The new service applies only to payments that are sent and received in the U.S.
...
The service launches April 24. Wal-Mart said the service fees—$4.50 for transfers up to $50 and $9.50 for transfers up to $900—are 50% or more below the cost of existing offerings.
...
MoneyGram said Walmart-2-Walmart's service fees are 25 cents lower than what MoneyGram offers through Wal-Mart for transfers up to $50, and $2 less than MoneyGram's fee on transfers between $50 and $200.
...
The service launches April 24. Wal-Mart said the service fees—$4.50 for transfers up to $50 and $9.50 for transfers up to $900—are 50% or more below the cost of existing offerings.
...
MoneyGram said Walmart-2-Walmart's service fees are 25 cents lower than what MoneyGram offers through Wal-Mart for transfers up to $50, and $2 less than MoneyGram's fee on transfers between $50 and $200.
1) Yeah, it's super expensive compared to other MS.
2) No word on how to buy these (assume DB/cash only).
I'm not advocating this as the next best thing in MS, but wanted to share this with those who follow the industry as I do.
The key takeaway here is this means WMT is expanding it's financial services footprint, and doing so by reducing the costs of existing methods in the market. This is GOOD NEWS for us. This is even better news, of course, if you actually use services like MG or WU to send money to family and friends.
You can read the article in full here.
Last edited by luggagebin; Apr 18, 2014 at 5:43 am Reason: Updated link
Apr 18, 2014, 7:01 am
#11
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wait, whats the point of this, is this an in-house solution to WU money transfer? ... like say you go on a hiking trip, lose your wallet or something, call up your brother and have him wire you some money to the closest WM from his local WM? is that what WM-2-WM is in essence?
WM is gonna cannibalize and crush MG and WU - stock price reflects that, but not sure if that is entirely good as most of us use MG for MOs.
WM is gonna cannibalize and crush MG and WU - stock price reflects that, but not sure if that is entirely good as most of us use MG for MOs.
Apr 18, 2014, 7:34 am
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wait, whats the point of this, is this an in-house solution to WU money transfer? ... like say you go on a hiking trip, lose your wallet or something, call up your brother and have him wire you some money to the closest WM from his local WM? is that what WM-2-WM is in essence?
WM is gonna cannibalize and crush MG and WU - stock price reflects that, but not sure if that is entirely good as most of us use MG for MOs.
WM is gonna cannibalize and crush MG and WU - stock price reflects that, but not sure if that is entirely good as most of us use MG for MOs.
But your second point is what I had in mind – I say: the system works great from our perspective right now; let's not monkey around with it please!
Apr 18, 2014, 10:26 am
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