Walmart Pay gives retailer strategic advantage, building off existing app

Walmart jumped out Thursday with a natively built in-store mobile payment technology that works with any iOS or Android phone and any major credit or debit card.

Walmart Pay works at a store's checkout by scanning a QR code on a Walmart smartphone app. The app is already used by 22 million Walmart customers each month for online shopping, including finding discounts and making online orders that can be picked up at the nearest store.

"Without question, Walmart Pay is a strategic move" that can help the big box retailer outdistance competitors, said Jordan McKee, an analyst at 451 Research. "Walmart is tapping into a large, existing mobile app user base and attempting to grow the value of an already valuable audience."

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