Walmart and PayPal have announced that they will be coming together to “provide financial services and products” which will help their mutual customers. The alliance will see the companies rolling out the PayPal cash in and cash out money services at Walmart’s stores for $3 per service.
Now, the PayPal mobile app users will be able to withdraw cash from their PayPal account in a brick and mortar setting for the very first time. This service will allow them to even deposit cash into their PayPal balance at the Walmart outlets. Also, the PayPal’s MasterCard users can now access their cash balance at the Walmart service desks, ATMs and cash registers for the same $3 per service.
PayPal’s President and CEO Dan Schulman called this a “key collaboration” which will make it simple and easy for PayPal customers to use its cash in and cash out money services. The PayPal cash in services have already been availed at all Walmart stores within the U.S, while the PayPal cash out will be available at all of the retail giant’s U.S locations by November.
90% of Americans live within 10 miles of a Walmart store and this offering will expand the access to financial services for a very low fee. It is bound to make cash transactions easier for many Americans.