At the register, users would open the app and use Walmart Pay to scan a QR code on the card reader.
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Walmart today introduced its own mobile payments service called “Walmart Pay” built into its Walmart app on iOS and Android. You then scan the code displayed at the register when you’re ready to checkout from the store.
The company is also working on the integration of other payment options such as mobile wallets in the future. The associate scans and bags the items and it’s done. He added that Walmart Pay has been created to be integrated with other payment wallets as well.
Android Pay is a little more involved but still simpler than Walmart Pay.
A survey released by data firm InfoScout found Apple Pay use to be at its lowest rate since the firm started tracking it. Shoppers used it this past Black Friday for only 2.7 percent of eligible transactions.
“(Walmart Pay) fits the trend of scale players in the payments ecosystem looking to control mobile payments by leveraging their content and high traffic apps”, J. P. Morgan analysts wrote in a research note.
The introduction of this payment system is part of Wal-Mart’s overall mobile strategy aimed at making shopping easier and faster.
Built as an add-on to the retailer’s mobile app, shoppers first link their preferred payment method to their Walmart.com account.
Walmart says that 140 million customers head into it’s stores every week and around 22 million of these use its app every month, so it’s more than likely these customers will try out Walmart Pay as well. The retail behemoth moves into the mobile payment field at the same time as Apple’s system is expanding to such chains as Best Buy and KFC.
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United States banking group JPMorgan Chase and South Korean electronics group LG also are launching mobile pay applications. The Walmart app now offers such features as checking in to pick up an online order at a Walmart store, refilling pharmacy prescriptions and finding an item’s store location. Within the app, an electronic receipt is stored, and Touch ID fingerprint recognition is supported for an extra layer of security. “The result is an innovation that will make the ease of mobile payments a reality for millions of Americans”.
