Walmart to roll out own payment system in its stores

Walmart is rolling out in its stores its own smartphone-based payment system that uses QR technology rather than the near-field communication technology, or NFC, used by the payment systems of players like Apple and Google.

Integrated into its smartphone app, the new Walmart Pay will work at any checkout lane and with any major credit, debit, pre-paid or Walmart gift card, the retailer said Thursday.

The service is to be introduced in select stores from this month. The retailer is planning a nationwide launch to be completed by the first half of next year.

Walmart U.S. senior vice president for services, Daniel Eckert, said in a video that existing mobile wallets are limited to certain types of phones, operating systems or payment types, which places constraints on users. He added that Walmart Pay has been designed to be integrated with other payment wallets as well.

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