Walmart and PayPal have joined forces to collaborate on financial services and products – including letting their shared customers withdraw and deposit money directly into their PayPal accounts within Walmart stores.
The introduction of the money services at Walmart stores marks the first time that PayPal mobile app users will be able to take cash out of their PayPal account in a brick-and-mortar environment. In addition, PayPal Cash Mastercard customers will now have access to their cash balance via Walmart Service Desks, ATMs, and cash registers. Each time one of the above services is used it will cost a fee of $3.
“We consider this a key collaboration for both PayPal and Walmart,” said Dan Schulman, president and CEO at PayPal. “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 US We look forward to working hand-in-hand to help people and families with their financial services needs.”
PayPal cash in has already become available at Walmart, while cash out will become available at all US Walmart locations by early November.