San Bruno, Calif. - Walmart has begun allowing customers to pay for
their online purchases with cash.
Under the "Pay with Cash" program, shoppers can purchase items at
Walmart.com, pay for them in stores within a 48-hour period, and then have the
items shipped to their home or local Walmart store.
Hundreds of thousands of online items are eligible for the Pay
with Cash option, spanning such categories such as CE, household appliances,
toys, and health and beauty.
The move leverages the discounter's multichannel capabilities to
provide an online option for customers who don't qualify for credit or are wary
of using credit cards online.
"Many of our customers shop paycheck to paycheck and are looking
for more ways to purchase items online but don't have the means to a credit,
debit or prepaid card," said Joel Anderson, president/CEO of Walmart.com.
Walmart said it is the first major retailer to offer the online
cash option, and cited data indicating that one in four U.S. households have no
bank account or credit card or have limited banking options.
Nevertheless, 81 percent of the "unbanked" and 63 percent of the
"underbanked" have Internet access, and two-thirds of those identified in a
Walmart survey as underbanked said they were likely to use cash as a form of
online payment if the option were available. Walmart said it is also seeing
more demand for cash as a payment option online.
Details are available at www.walmart.com/paywithcash.