Thursday, April 26, 2012

New Walmart service allows you to buy online, "Pay with Cash"

Walmart is letting online shoppers pay with cash. That's correct, cash, in an interesting move made to help the majority of its customers: Walmart says only 15 percent of its sales are made with credit cards.

Joel Anderson, president and CEO of (notably, not the same person that is president and CEO of Walmart; that is Mike Duke), said “The fact that only 15 percent of our transactions are done in the form of credit at our stores means there’s a large percentage of Walmart customers who are dependent on cash to transact online. We definitely think it is a big opportunity."

It's an opportunity only Internet retailers with a brick-and-mortar adjunct can leverage. While Walmart said only 15 percent of its transactions are made with credit, it's also true that 24 percent of U.S. consumers don't have either a credit or debit card.

Here's how "Pay with Cash" works:

To use "Pay with Cash," customers make purchases online at They then have 48 hours to go to a local Walmart to pay for the order. They only have to show their order number to a cashier to do so. Once the order is paid for, the items will then ship.

Of course, the customers can either have the items shipped to their home or office, or have them shipped to the store using Site to Store, whereupon they will receive a text or email when the item is ready to pick up.

Although this is a first for Walmart, it's certainly not a first overall. Mountain View, Calif.-based PayNearMe allows customers to make purchases at various online retailers and pay for them at 7-11 stores, where the clerk scans a barcode and collects the payment.

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