BENTONVILLE, Ark. — Walmart announced its new low-cost fee on money transfers to Mexico through its Walmart2Walmart program.
The company relaunched the money transferring program Walmart2Walmart Mexico now powered by Ria Money Transfer.
Customers in the U.S. are now able to send money to any Walmart store in Mexico for as low as $2.50 per transaction. This is at least 50% lower than similar offerings on the market according to Walmart.
Walmart says this marks another major milestone for the retailer as it remains committed to providing more inclusive and affordable financial solutions for all customers, including unbanked or underbanked households that rely on services like wire transfers for everyday money management.
“We are thrilled to offer Walmart shoppers a convenient way to send money to their loved ones in Mexico at an incredibly low price,” said Julia Unger, vice president, Walmart Financial Services. “Our low-fee strategy demonstrates our commitment to continue improving the financial well-being of our customers around the world.”
The original Walmart2Walmart money transfer service launched in 2016. The service was paused in 2018 to invest in the infrastructure and price lowering efforts.
“We are delighted to collaborate with Walmart on this exceptional service, which provides customers price benefits and easier access to fast, safe, and guaranteed money transfers to Mexico,” said Juan Bianchi, CEO of Euronet’s Money Transfer Segment. “Thanks to Ria’s scalable capabilities, coupled with Walmart’s large footprint, we can help Walmart offer unrivaled value and convenience to Mexicans living in the U.S. and their families back home in Mexico.”
For more information, click here.