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Walmart to Expand In-Store Bill Payments With InComm Technology -Breaking

by Mike Robinson

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© Reuters.

Sam Boughedda

Investing.com — American retail giant Walmart Inc (NYSE:) has teamed up with tech firm InComm Payments to make it easier for people to pay bills and load money onto pre-paid cards at its in-store money and customer service centers.

Walmart shares fell 0.6% Tuesday.

Walmart called it “a convenient, efficient way for millions customers to pay their bill or fund prepaid account nationwide” using InComm’s VanillaDirect network.

Over 15,000 account providers and billers are part of the network, which covers a variety of sectors such as banking, insurance, utility and rental, tolling and telecommunication.

Walmart customers will now be able pay bills, fund various account types and scan the barcode associated to their accounts to make a payment. Funds can then be transferred electronically by a single settlement. 

Stefan Happ, President of InComm Payments, stated, “VanillaDirect, an excellent addition Walmart’s payment options, provides their cash-centric customer a new convenient and easy to use method for paying bills, and funding accounts that support them everyday lives.”

KeyBanc analyst Edward Yruma bullish Walmart stock on Monday. He said that innovation could “drive growth” and “drive margins.” 

Current analyst rating: Overweight with $180 price target 

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