Walmart partnering with MoneyGram to launch new global wire service

Walmart has announced that it is working with MoneyGram to launch a new global money transfer sevice, called Walmart2World.

In a statement issued today (3 April), Walmart said: “Four years ago, Walmart changed the money transfer game with the introduction of Walmart2Walmart – a domestic money transfer service that offered dramatically lower costs that has since saved customers nearly $700 million in fees. Now, with MoneyGram International, Walmart is bringing its game-changing model to the global wire service market, with the launch of Walmart2World.”

The service is scheduled to launch in all of Walmart’s 4,700 U.S. stores this month (April).

According to Walmart, the key features of Walmart2World are its pricing structure ($4 to send up to $50, $8 to send $51 to $1,000, and $16 to send $1,001 to $2,500); competitive exchange rates; and delivery within minutes to a worldwide network.