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Economy
In reply to the discussion: STOCK MARKET WATCH -- Friday, 18 April 2014 [View all]xchrom
(108,903 posts)31. wal-mart jumps into the money transfer biz, loudly
http://hosted.ap.org/dynamic/stories/U/US_WAL_MART_MONEY_TRANSFERS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2014-04-17-19-05-49
NEW YORK (AP) -- Wal-Mart is delving deeper into financial services at its stores and shaking up the money transfer business.
The world's largest retailer introduced a new money transfer service Thursday that it says will cut fees for its low-income customers by up to 50 percent compared with similar services elsewhere. The Walmart-2-Walmart service is being rolled out in partnership with Ria Money Transfer, a subsidiary of Euronet Worldwide Inc.
Shares of money-transfer companies MoneyGram and Western Union slid Thursday.
The service, which will be available starting April 24, allows its customers to transfer up to $900 to and from more than 4,000 Wal-Mart stores in the U.S.
NEW YORK (AP) -- Wal-Mart is delving deeper into financial services at its stores and shaking up the money transfer business.
The world's largest retailer introduced a new money transfer service Thursday that it says will cut fees for its low-income customers by up to 50 percent compared with similar services elsewhere. The Walmart-2-Walmart service is being rolled out in partnership with Ria Money Transfer, a subsidiary of Euronet Worldwide Inc.
Shares of money-transfer companies MoneyGram and Western Union slid Thursday.
The service, which will be available starting April 24, allows its customers to transfer up to $900 to and from more than 4,000 Wal-Mart stores in the U.S.
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