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Special Report: Unbanked and Underbanked
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Articles on Wal-Mart
Wal-Mart's Official News
Wal-Mart Rapidly Expands Access to Low-Cost Money Services For Millions of Customers Nationwide
In a groundbreaking move to help Americans save money and live better, Wal-Mart Stores, Inc., [has] announced it will open 1,000 Wal-Mart MoneyCenters – covering a quarter of its stores – by the end of 2008. The company will also broaden its menu of financial products and services, beginning with the launch of the Wal-Mart MoneyCard, a reloadable prepaid Visa® rolling out nationally with GE Money and Green Dot. >>more
Serving the Unbanked “Plays to Our DNA”
An Interview with Wal-Mart’s Jane Thompson
Business Week (February 7, 2005)
While Wal-Mart has been blocked by federal and state regulators from exercising true bank-like powers, the retail giant hasn't given up its ambitions of being a player in financial services. For the past two years, it has been stepping up its efforts to peddle such "basic money services" as low-price wire transfers, check cashing, and express bill paying. >>more
Wal-Mart Aims at “Unbanked”
Marcus Kabel
Associated Press (June 21, 2007)
Wal-Mart will start selling prepaid Visa debit cards that don't require a credit check or bank account, the company said yesterday. The world's largest retailer has sought to expand into financial services at its U.S. stores to serve the millions of people who don't have bank accounts or credit cards. >>more
Wal-Mart: Debit Cards for the Unbanked
Marcus Kabel
Associated Press (June 20, 2007)
Wal-Mart, furthering a lucrative push to offer financial services to its customers, will sell prepaid Visa debit cards that would allow millions of low-income shoppers who don’t have bank accounts to keep up with an increasingly cashless society. >>more
Wal-Mart’s Boon for “Unbanked”
Terry Savage
Chicago Sun-Times (June 25, 2007)
Wal-Mart's entry into the consumer banking wars is not only a great opportunity for many people who avoid banks because they live from paycheck to paycheck. It's also a shot at the consumer banking industry, which has been raking in record profits. >>more
Wal-Mart’s Unbanking Business
Anita Hamilton
Time (June 21, 2007)
Wal-Mart doesn't just want you to buy gas and groceries at its superstores these days. Now it wants your entire paycheck. >>more