Wal-Mart Prepares To Launch Payments Card
Jonathan Birchall reports for the Financial TImes on plans by Wal-Mart to launch a new "payments card aimed at the estimated 80m US residents who do not have access to a bank account." According to the report, the card will be a Visa Prepaid card issued in partnership with GE Money. In a related article, Kris Hudson reports for the Wall St. Journal about Wal-Mart's plans to add more Wal-Mart MoneyCenters to its stores to provide check cashing and money transfers to customers.
Green Dot is actually running the back office for Wal-Mart. Check out the details at www.walmartmoneycard.com.
Posted by: Steve | June 07, 2007 at 04:44 AM