Walmart2World To Offer More Choices For Payout Methods

(RTTNews) - Walmart expanded its flat-fee, low-cost money transfer service to include an international money transfer marketplace that will serve all its 4,700 U.S. Walmart stores.

The retail giant said it created the international money transfer marketplace in collaboration with MoneyGram and Ria, its money transfer principals.

Walmart first introduced a flat, low fee domestic money transfer service called 'Walmart2Walmart' for its U.S. customers in 2014. The service allows customers to transfer funds between Walmart locations in the U.S.

Last year, the company had launched 'Walmart2World' for the global money transfer service market that enables customers to transfer funds to people in more than 200 countries.

Walmart noted that in the coming weeks, customers using 'Walmart2World' can choose either MoneyGram or Ria when making an international money transfer.

Walmart2World will now offer customers more choices for payout methods and payout locations in addition to more competitive foreign exchange rates at a flat, low-cost transfer fee.

The company noted that consumers who have used these low-cost, money transfer platforms since 2014 have saved $1 billion in total costs due to Walmart's 'Every Day Low Price Strategy.'

Separately, MoneyGram International said it has extended its contract with Walmart to continue to provide MoneyGram-branded money transfer services into 2021.

The MoneyGram network features will-call transfers and offers customers the choice and convenience to pick up transactions at any MoneyGram network location in more than 200 countries around the world.