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Bill-pay expected to be primary use for new Wal-Mart card
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.
Banking Executive SummaryTransaction ProcessingPrepaid / Stored Value / Gift CardUnderbanked / UnbankedDebit / CreditOtherNorth AmericaPublic CompaniesBank / Credit Union
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