Walmart Announces New Low-Price Fee on Money Transfers to Mexico
March 03 2022 - 12:01AM
Business Wire
The retailer delivers incredible savings for
millions of customers in relaunch of Walmart2Walmart Mexico,
powered by Ria Money Transfer
Walmart (NYSE: WMT) is making it significantly cheaper for its
customers to send money to Mexico. Customers can now send money
from any Walmart store in the U.S. to any Walmart store in Mexico
for as little as $2.50 per transaction through its
Walmart2Walmart money transfer program – at least 50% lower than
similar offerings on the market.
This game-changing low fee marks another major milestone for the
retailer as it remains committed to providing more inclusive and
affordable financial solutions for all customers, including
unbanked or underbanked households that rely on services like wire
transfers for everyday money management.
“We are thrilled to offer Walmart shoppers a convenient way to
send money to their loved ones in Mexico at an incredibly low
price,” said Julia Unger, vice president, Walmart Financial
Services. “Our low-fee strategy demonstrates our commitment to
continue improving the financial well-being of our customers around
the world.”
Today’s announcement builds on the momentum of the original
Walmart2Walmart money transfer service between the U.S. and Mexico,
launched in 2016. That service paused in 2018 while the company
invested in lowering prices and boosting the infrastructure to
power today’s new service. With remittances to Mexico up over 27%
in 2021, Walmart’s relaunch of Walmart2Walmart Mexico is timely,
enabling customers to use Walmart’s large network of stores to send
money quickly and inexpensively at a time when cross-border
payments are rapidly growing.
“We are delighted to collaborate with Walmart on this
exceptional service, which provides customers price benefits and
easier access to fast, safe and guaranteed money transfers to
Mexico,” said Juan Bianchi, CEO of Euronet’s Money Transfer
Segment. “Thanks to Ria’s scalable capabilities, coupled with
Walmart’s large footprint, we can help Walmart offer unrivaled
value and convenience to Mexicans living in the U.S. and their
families back home in Mexico.”
Visit here for more information.
About Walmart
Walmart Inc. (NYSE: WMT) helps people around the world save
money and live better - anytime and anywhere - in retail stores,
online, and through their mobile devices. Each week, approximately
230 million customers and members visit approximately 10,500 stores
and clubs under 46 banners in 24 countries and eCommerce websites.
With fiscal year 2022 revenue of $573 billion, Walmart employs 2.3
million associates worldwide. Walmart continues to be a leader in
sustainability, corporate philanthropy and employment opportunity.
Additional information about Walmart can be found by visiting
https://corporate.walmart.com, on Facebook at
https://facebook.com/walmart and on Twitter at
https://twitter.com/walmart.
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