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.
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