PayPal has announced a collaboration with Walmart that will see the retail giant host PayPal’s first cash in and cash out services for its users in a brick and mortar environment
For US$3 per service, users can deposit and withdraw funds to and from their PayPal accounts at Walmart locations around the US.
The cash in service is now available at all Walmart stores in the US, with the cash out service to follow suit by early November.
In addition, PayPal Cash Mastercard customers now have the option of accessing their cash balance at Walmart Service Desks, ATMs, and cash registers for the same $3 fee.
“Today’s news is the first time our two companies are working together to build products for our shared customers,” said PayPal president and CEO Dan Schulman in the firm’s statement.
“We consider this a key collaboration for both PayPal and Walmart. We are committed to working together to make it simple and easy for people to use PayPal cash in and cash out money services at every Walmart location in the U.S.”
Daniel Eckert, senior VP of Walmart Services and Digital Acceleration, added:
“With 90 percent of Americans living within 10 miles of a Walmart store, we know that offering PayPal cash in and cash out money services for an exclusive low fee is going to provide great value to the many people who rely on Walmart and PayPal to help manage and move their money."