WhiteSight

Walmart’s FinTech Waltz: A Digital Wonderland

Table of Contents

Walmart, one of the world’s largest retailers by revenue, has always strived for a customer-first mindset. It is also one of the earliest non-banking stalwarts to bring contextual financial products to aid customers’ shopping experiences – a trend which we now call embedded finance. Since the 1990s, this has reflected in Walmart’s investments, partnerships, internal innovations, and acquisitions as the company has continued to deliver a broad omnichannel commerce experience to its customers. Walmart has upped the ante on its SuperApp ambitions, with its recent acquisitions of two FinTechs – Ever Responsible Finance and ONE Finance. We look at Walmart’s flirtations with financial products that spread well beyond 2 decades. Initial Bets in FinanceWalmart’s attempts to diversify its offerings date back to early 2005—when the retail giant in partnership with GE Consumer Finance and Discover Financial Services—announced plans to launch a credit card that can be used both inside and outside Walmart stores. Soon after, it applied for a banking license as an industrial loan company (ILC) with the Department of Financial Institutions in Utah. However, given the pressure from the banking fraternity against Walmart’s advances in the sector, it withdrew its bank charter application within two years of filing. […]

This post is only available to members.

Already a subscriber? Log in to Access

Unlock this blog

Gain exclusive access to this blog alone.

Radar Subscription

Select a membership plan that resonates with your
goals and aspirations.

Not Ready to Subscribe?

Experience a taste of our expert research with a complimentary guest account.

We publish new research regularly. Subscribe to stay updated.
No spam. Only the best in class fintech analysis.



    Related Posts
    Infographic design of the various financial players leveraging open banking to transform traditional lending.
    Complimentary Research

    Open Banking-led Transformation of Traditional Lending In 2023, a wave of innovation swept through the lending industry, thanks to several...

    Infographic image of timeline of the top 20 events in open banking from 2023
    Complimentary Research

    Unmasking Open Banking’s Game Changers in 2023 2023 has been a pivotal year in the world of open banking, marked...

    Infographic design of a house with logos of layers transforming the Australia mortgage realm through open banking
    Complimentary Research

    How Open Banking is Altering Australia’s Mortgage Mindset Forget the days of mountains of paperwork and endless phone calls for...

    BaaS-Backlash-Featured-Image
    Complimentary Research

    The Meteoric Rise of BaaS Models in the Modern Financial Landscape In 2011, Marc Andreessen penned an influential essay claiming,...

    OF-Roundup-A2A-Payments-Featured-Image
    Complimentary Research

    No More Hoops: A2A Payments Unleashed with Open Banking “Hi, you’ve reached our customer service, please wait while we connect...

    Emfi-Europe-Featured-Image
    Complimentary Research

    From Groceries to Policies: Europe’s Embedded Endeavours Brands and digital platforms across Europe are integrating financial products, refining user experience...

    Select currency
    WS_Logo_-for-White-BG-01.png