Walmart Enters Online Money Transfer Posted by AVCU on 9:53 AM

Walmart is stepping up its efforts in the online money transfer space.

As reported in PYMNYS.com the world’s largest retailer has paired up with MoneyGram to take on online funds transfers. MoneyGram and Walmart are collaborating on a “state-of-the-art” online money transfer platform that both introduces new capabilities and streamlines prior offerings.

The new Walmart/MoneyGram online funds transfer service is built on MoneyGram’s new MTaaS (Money Transfer-as-a-Service) platform. Using MTaaS is very similar to working with MoneyGram on its own site — but now with third-party input through a co-branded experience.  Customers tapping into the platform will have the option of sending funds or using the newly created “Track a Transfer” tool, which allows users to “follow” their money’s journey from MoneyGram’s estimated 350,000 locations to its destination.