Apple Pay? Samsung Pay? How about Walmart Pay?
Is the mobile payment world big enough for an iOS-restricted service, an Android-dedicated app, a digital wallet product that functions only on select Samsung Galaxy phones, and a cross-platform checkout service exclusive to Walmart stores?
Probably not, or at least not yet, judging from Apple Pay usage statistics during the year’s busiest shopping day. But for some reason, the largest retailer in the United States (and around the globe) remains stubbornly opposed to existent mobile transaction solutions, seeing an opening in a very much fledgling market, and looking to take on Cupertino, as well as Google and Samsung.
With roughly 2.2 million employees, yearly revenue of close to $500 billion and net income of $16B+, you’d think Walmart can achieve essentially anything its execs set their minds to. But we’re talking a major breakthrough technology here, and standing up to possibly the three most successful tech companies around may not be the wisest move.
Walmart Pay sounds like a very convenient shopping tool in that it works with any Android or iOS cameraphone. On the not so bright side, it could use up precious time behind the register, requiring a few extra steps compared to Apple or Samsung Pay, and relying on QR codes rather than the future of finance, i.e. NFC connectivity.
Designed as a sub-feature of the grander Walmart app already used by 22 million customers each month instead of a standalone product, Walmart Pay will debut in “select stores” later this month, eyeing a “nationwide launch to be complete by the first half of next year.” Are you looking forward to more competition and choice, or would you have liked to see the retailer jump on the Samsung and Apple Pay bandwagons?