Walmart Embraces Apple Pay and Google Pay Nationwide
Walmart is set to enhance its payment options by accepting major tap-to-pay methods, including Apple Pay and Google Pay, in a move that marks a significant shift in its payment strategy. This update will initially be implemented at select Walmart and Sam’s Club locations, with plans to extend to all of its approximately 4,600 stores across the United States by the end of 2023.
Expansion of Payment Methods
Starting this week, customers at certain Walmart and Sam’s Club stores can utilise tap-to-pay features via mobile phones, smartwatches, or other devices that support digital wallets such as Apple Pay and Google Pay. The retailer has announced that this option will be available in all its stores by year-end. In a longer-term plan, Walmart also intends to enable these payment methods at its gas stations starting in 2027.
Shift Away from Former Strategies
This change comes after Walmart’s previous attempts to push its own mobile payment system, which included blocking competitor mobile wallets in favour of the now-defunct CurrentC app. Following CurrentC, Walmart introduced Walmart Pay, a mobile payment solution designed to work with smartphones within its stores.
Comprehensive Mobile Wallet Support
The company’s new approach not only incorporates Apple Pay and Google Pay but also other digital wallets such as Samsung Pay and Garmin Pay. This expansion aims to cater to a wider range of consumer preferences, accommodating the diverse methods customers may choose to use for transactions.
Strategic Ventures in Payment Innovations
Walmart’s initiative to broaden payment options is part of its strategy to reduce costs associated with credit and debit card processing fees. The introduction of the digital OnePay card—backed by a fintech startup in collaboration with Ribbit Capital—is another step towards lowering payment processing expenses. Furthermore, Walmart has integrated buy now, pay later (BNPL) options, partnering with Klarna Group to offer financing, thereby increasing competition with Affirm Holdings for BNPL services at its stores.
Reporting based on coverage first published by retaildive.com.