Bill-pay expected to be primary use for new Wal-Mart card

Bill-pay expected to be primary use for new Wal-Mart card
Tags: Bank / Credit Union, Debit / Credit, North America, Other, Prepaid / Stored Value / Gift Card, Public Companies, Transaction Processing, Underbanked / Unbanked
July 1, 2007

Digital Transactions: Visa USA says it expects bill payment to be a key function for holders of the new Wal-Mart MoneyCard prepaid product, which Wal-Mart announced in June. The MoneyCard, issued by GE Money Bank and co-branded with Visa, is targeting the underbanked, a significant component of Wal-Mart Stores Inc.'s customer base. Wal-Mart says it plans to issue the MoneyCard at 2,600 of its stores by the end of July.