BENTONVILLE, Ark. — Wal-Mart, the nation's leading retailer, has announced an effort to make its stores a significant source of financial services for lower income and underserved consumers, the retail giant said in June 20 press release.
The nation's leading retail chain, has announced that it will open up 1,000 new money centers by the end of 2008. The new centers will be in a quarter of the chain's stores nationwide.
The chain will also roll out a reloadable, Visa branded prepaid card, called the Wal-Mart MoneyCard and said that the centers will help low income consumers with check cashing, money orders, bill payment and money transfers. Together with the Wal-Mart MoneyCard, the chain said low income consumers will have "many of the advantages of a checking account" in their pockets, an easy, safe and convenient way to manage money, pay bills and make purchases. "Wal-Mart is providing a foundation from which customers can achieve their financial goals," the chain said in a prepared release.
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