Companies will collaborate on products to help joint customers
Walmart and PayPal are teaming up to provide financial services and products for their shared customers.
According to the official announcement, the two companies will begin rolling out PayPal cash in and cash out money services at Walmart for an exclusive fee of $3 per service. This is the first time PayPal mobile app users will be able to take cash out of their PayPal account in a brick-and-mortar environment, in addition to being able to load cash into their PayPal balance at Walmart stores. Additionally, PayPal Cash Mastercard customers can now access their cash balance using Walmart Service Desks, ATMs and cash registers for the same low, transparent fee.
PayPal cash in is immediately available at Walmart, and PayPal cash out will be available at all U.S. Walmart locations by early November.