BENTONVILLE, Ark. (12/11/15)--Wal-Mart Stores has introduced its own payment application, becoming the first retailer to offer its own payment solution.
Walmart Pay was introduced Thursday in select U.S. stores and will be rolled out in more stores after the holiday season (Reuters Dec. 11).
The free service, integrated into the retailer's app, will be available nationwide by the first half of 2016, Wal-Mart said.
Walmart Pay uses QR codes to complete transactions at the point of sale (POS). At checkout, customers select Walmart Pay from within the Walmart app and take a picture of a generated QR code on the POS terminal store to connect. An electronic receipt is stored within the app.
Walmart Pay will also allow for the integration of other payment options such as mobile wallets in the future.
Wal-Mart said 22 million customers use its app each month. The app includes features such as checking in to pick up an online order at a brick-and-mortar store, refilling pharmacy prescriptions and finding an item’s store location.