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April 18, 2014

Wal-Mart adding new money transfer service

  • The world's largest retailer is expanding its financial services for customers, and already offers prepaid cards, check cashing and tax preparation.
    • By ANNE D'INNOCENZIO
    AP Retail Writer

    NEW YORK — Wal-Mart is delving deeper into financial services at its stores and shaking up the money transfer business.

    The world's largest retailer introduced a new money transfer service Thursday that it says will cut fees for its low-income customers by up to 50 percent compared with similar services elsewhere. The Walmart-2-Walmart service is being rolled out in partnership with Ria Money Transfer, a subsidiary of Euronet Worldwide Inc.


     
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