• Walmart Competes With Apple Pay by Introducing 'Walmart Pay'



    As more retailers are beginning to incorporate and accept Apple Pay, not only has Walmart been going in the opposite direction but they just recently announced their own mobile payment service to compete against Apple Pay. The big retailer’s new payment service is called ‘Walmart Pay’ and it’s built into their own iOS and Android app. Walmart Pay will be released in certain U.S. Walmart stores this month but will roll out nationwide the first half of next year.

    Walmart Pay is a QR code-based system in which users will need to open up the app at checkout, choose Walmart Pay, allow camera usage, and finally scan the register code displayed. Customers will then receive an electronic receipt in their iOS or Android app. According to the company, 22 million people use their app every month, which makes their app one of the top three retail apps in the Google Play Store and Apple App Store.

    The big retailer will support most major debit/credit cards, Walmart gift cards, or pre-paid cards. It will only be accepted at Walmart stores and nowehere else. Walmart U.S.’s SVP, Daniel Eckert, noted:

    The simplicity and ease of Walmart Pay comes not only from how it works, but also in how it’s been built. We made a strategic decision to design Walmart Pay to work with almost any smartphone and accept almost any payment type – even allowing for the integration of other mobile wallets in the future. The result is an innovation that will make the ease of mobile payments a reality for millions of Americans.
    Do you think Walmart is making a big mistake in releasing their own mobile payment system, or do you think they're better off doing this as opposed to giving in to Apple Pay? Share your thoughts with us in the comment section below.

    Source: Walmart
    This article was originally published in forum thread: Walmart Competes With Apple Pay by Introducing 'Walmart Pay' started by Akshay Masand View original post
    Comments 15 Comments
    1. peacedog's Avatar
      peacedog -
      I thought Walmart was going with CurrentC. And I don't understand what advantage Walmart has by disallowing ApplePay. It seems like a decision out of spite. I'm not saying they should only accept ApplePay. I think they should accept all forms of NFC payment systems (ApplePay, SamsungPay, CurrentC, etc).
    1. Perlova's Avatar
      Perlova -
      Quote Originally Posted by peacedog View Post
      I thought Walmart was going with CurrentC. And I don't understand what advantage Walmart has by disallowing ApplePay. It seems like a decision out of spite. I'm not saying they should only accept ApplePay. I think they should accept all forms of NFC payment systems (ApplePay, SamsungPay, CurrentC, etc).
      I don't think that they can disallow ApplePay or any other PayPass capable service. As long as their terminals support RFID, ApplePay will work.
    1. peacedog's Avatar
      peacedog -
      Quote Originally Posted by Perlova View Post
      I don't think that they can disallow ApplePay or any other PayPass capable service. As long as their terminals support RFID, ApplePay will work.
      Actually they can block it and they do. Some of the places I shop often (Walmart, Target, CVS) all block ApplePay.

      Walmart continues to resist Apple Pay, announces its own Walmart Pay service | 9to5Mac
    1. edwilk55's Avatar
      edwilk55 -
      CurrentC is a failure and WalMart's probably tired of waiting for them to get their sh*! together.

      Also, neither CurrentC, nor WalMart pay are NFC payment systems. They are the ridiculous method of having to take a pic of the QR Code displayed on screen. Then show the QR code to the reader for it to be processed. Unbelievably stupid method of generating a payment!

      Neither CurrentC or WalMart Pay will allow credit cards, only debit or direct checking account access. This is big business's attempt to lock out credit cards and do away with the fees for having them processed.
    1. peacedog's Avatar
      peacedog -
      Quote Originally Posted by edwilk55 View Post
      Neither CurrentC or WalMart Pay will allow credit cards, only debit or direct checking account access. This is big business's attempt to lock out credit cards and do away with the fees for having them processed.
      I had no intentions of using CurrentC or Walmart Pay, but this seals the (no) deal for me.
    1. Silverado1987's Avatar
      Silverado1987 -
      Quote Originally Posted by edwilk55 View Post
      CurrentC is a failure and WalMart's probably tired of waiting for them to get their sh*! together.

      Also, neither CurrentC, nor WalMart pay are NFC payment systems. They are the ridiculous method of having to take a pic of the QR Code displayed on screen. Then show the QR code to the reader for it to be processed. Unbelievably stupid method of generating a payment!

      Neither CurrentC or WalMart Pay will allow credit cards, only debit or direct checking account access. This is big business's attempt to lock out credit cards and do away with the fees for having them processed.
      Save money live better am I right?
    1. PCYoda's Avatar
      PCYoda -
      Umm, you all actually read the article?

      The big retailer will support most major debit/credit cards
    1. fleurya's Avatar
      fleurya -
      "Walmart Pay is a QR code-based system in which users will need to open up the app at checkout"

      So much fail.

      But silver lining is that hopefully this signals the end of CurrentC and the bans some retailers have imposed on Apple Pay because of it.
    1. novadam's Avatar
      novadam -
      I use this sort of thing when I go to Chop't -- their app has the qr code payment thing. Works just fine.
    1. exNavy's Avatar
      exNavy -
      Jeeze Apple kick their app off your store. Let walmart market its own phone for their own app for their own payment system. Apple doesn't need walmart customers.
    1. unison999's Avatar
      unison999 -
      You all know we are paying for this Apple Pay, even if you do not or ever want to use Apple Pay.
      If you buy anything from a retailer that accept Apple Pay, they accept the fee Apple impose on using this system which in turn gets pass down to the consumer.
      I hope more retail store reject the use of Apple Pay, currently inflation is bad enough without this adding on top of it.
    1. vinaygoel2000's Avatar
      vinaygoel2000 -
      Quote Originally Posted by unison999 View Post
      You all know we are paying for this Apple Pay, even if you do not or ever want to use Apple Pay.
      If you buy anything from a retailer that accept Apple Pay, they accept the fee Apple impose on using this system which in turn gets pass down to the consumer.
      I hope more retail store reject the use of Apple Pay, currently inflation is bad enough without this adding on top of it.
      Apple doesn't charge anything to the merchant or retailers. They charge the credit card financial institutions.
    1. WHUDS's Avatar
      WHUDS -
      Nice to see that Apple is not the only ones ( no headphone jack) with their heads up their ( where the Sun don't shine)
    1. fleurya's Avatar
      fleurya -
      Quote Originally Posted by unison999 View Post
      You all know we are paying for this Apple Pay, even if you do not or ever want to use Apple Pay.
      If you buy anything from a retailer that accept Apple Pay, they accept the fee Apple impose on using this system which in turn gets pass down to the consumer.
      I hope more retail store reject the use of Apple Pay, currently inflation is bad enough without this adding on top of it.
      That is absolutely 100% false! Retailers pay the same credit card interchange fee for Apple Pay that they would for directly using the card you have registered with Apple Pay. The retailers sees no additional cost at all on those transaction.

      Also it is the banks that pay the fee to Apple, which they happily do because it is a small price to pay in exchange for the huge benefit of reduced fraud: which is one of a card-issuing bank's biggest expenses.

      You don't know that you're talking about so please stop spreading that FUD around.
    1. Perceptum's Avatar
      Perceptum -
      Quote Originally Posted by unison999 View Post
      You all know we are paying for this Apple Pay, even if you do not or ever want to use Apple Pay.
      If you buy anything from a retailer that accept Apple Pay, they accept the fee Apple impose on using this system which in turn gets pass down to the consumer.
      I hope more retail store reject the use of Apple Pay, currently inflation is bad enough without this adding on top of it.
      Close. The fees Apple collects come from the transaction fee, the interchange fee, and/or "tokenise" fee. The banks don’t pay Apple directly – these fees are collected by card schemes, who then pass on Apple’s share. Apple has placed in their contracts that these fees can not be passed to the consumer.

      Since the card issuers will be seeing less fees coming in, we will ultimately see them manipulate fees and interests rate on other products and services to get back the money lost in fees to Apple. The good news is Apple is only asking for .15% of the transaction.

      So yes, in the grand scheme of things, the consumer will be paying the price.


      Sent from my iPad using Tapatalk
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