- The online payments giant is now accepted as a payment option in many of North America’s retailers
- Walmart is the very first chain to offer withdrawal and funding services to PayPal users
- PayPal has an estimated 244 million users around the world
American supermarket chain Walmart has signed a deal with money transfer services provider PayPal, according to reports and it involves using Walmart as an ATM. The collaboration will give PayPal users a physical venue to take cash directly from their accounts, a process that used to be only available virtually until funds reach either the account holder’s bank account or another person’s PayPal account. The store will also provide funding services for PayPal users who would like to add more money to their virtual accounts. Walmart officials say that cashing in and out at the chain’s outlets involves a $3 fee per transaction.
While Walmart is the very first retailer to actually provide a service that allows users to withdraw or top up PayPal funds, it is not the first brick and mortar store to use it for in-store payments. Retailers such as Home Depot and Best Buy have been accepting PayPal payments for a long time now and they have been followed by other chains. By 2017, an estimated 37% of retailers in the United States and Canada already have PayPal as a payment option.
PayPal is not just experiencing steady growth at home though, because more people around the world are using the service for their international money transfer needs. Employers in the United States, the UK and Europe often pay remote staff through PayPal.
PayPal has an estimated 244 million users worldwide based on figures from the second quarter of 2018.
To learn more about online payments, take a look at this link here.
