Walmart is an American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores,with nearly 12,000 in 27 countries, headquartered in Bentonville, Arkansas.
Five years ego, Walmart started to its domestic money transfer service called Walmart2Wart.Walmart's customers have been usingt this low-cost, innovative money transfer platforms since 2014 and have saved an estimated $1 billion in total costs* due to Walmart’s Every Day Low Price Strategy according to Walmart.
Last year, the company brought this model to the global money transfer service market with the launch of Walmart2World.
Today Walmart generates an estimated $1 Billion in total savings for consumers through its money transfer service. (saurce:xrpripplenews)
In a press release on November 4, 2019, Walmart announced international payments in collaboration with RippleNet partners Ria and MoneyGram. In order to help customers save on money transfers, Walmart now collaborates with MoneyGram and Ria to create an international money transfer marketplace serving all 4,700 U.S. Walmart stores.
The MoneyGram CEO, Alex Holmes, says: “MoneyGram and Walmart have worked closely together for over two decades and have innovated to provide the world’s leading money transfer service for consumers in the United States. Walmart’s vision of creating a marketplace for financial services will benefit consumers through pricing and payout options, and we believe that our leading brand and competitive foreign exchange rates will help drive the future success of the marketplace.”
"We are excited Walmart has chosen to expand its relationship with Ria in their mission to provide customers more choice and the most economical and transparent services at the best price,” said Juan Bianchi, Chief Executive Officer, Euronet’s Money Transfer Segment. “This expanded product offering reflects our great relationship with Walmart and our joint mission to offer customers more choice at a better value when sending money abroad" said RIA Money Transfer
Walmart and two of Ripple's partens MoneyGram are Ria are now working together in order to improve its current Walmart2World payment platform. With this partership, Ripple will be taking a VERY BIG step in order to achieve becoming the global standard for money transfers.
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