BENTONVILLE, Ark. (KFSM) — Walmart is ending a favorite price-matching tool that automatically refunded customers for any price differences between Walmart and its competitors.
Walmart sent an email to customers last week announcing that the program, called Savings Catcher, would end nationwide on May 14 and that day will be the last day customers can submit a Walmart Pay eReceipt.
The program, which is part of the Walmart app, let shoppers scan receipts and compare prices to advertised prices for the same items elsewhere. If the program found a lower rate, the customer would receive a Walmart gift card for the amount of the difference.
Business Insider reports, the company is ending the program because it "already offers the lowest prices in most cases."
In addition, Business Insider says the company will no longer offer price-matching in stores once the Savings Catcher tool expires.
“Since the introduction of the program, we’ve worked hard to lower prices on thousands of everyday items across our stores, which has resulted in our prices winning the vast majority of the time when you submit receipts to Savings Catcher. This tells us that the program’s intent has been met, which was to provide you upfront with everyday low prices so that you and your family can save money and live better,” Walmart posted on its website.
Walmart said any balance on Savings Catcher eGift Card will remain on the card until customers decide to spend it.