Two months after filing a patent for fintech offering Hazel by Walmart – an amalgam of products and services that look a lot like a robo-adviser – the retail giant announced a partnership with bill payment fintech PayNearMe and Green Dot Bank in an effort to get customers to pay their bills at its stores.

Why should we care?
Digital financial behavior took off during the pandemic, but Walmart’s PayNearMe move shows that brands haven’t given up on physical locations as engagement drivers. From August onwards, Walmart will allow customers to scan a biller code and pay at any one of its 4,000 stores. The retailer is betting that customers will want to pay for the convenience of easy in-store bill payments. A fee of around $2.99 per transaction – with fees varying by biller – could be levied, reports suggest. Customers can currently pay bills at Walmart, but the retailer needs account and biller information, adding friction to the process. “Nearly a quarter of the U.S. population prefers – or needs – to pay their bills in cash, and when these individuals can pay their rent, car payments and utility bills in the same location where they shop, paying bills on time becomes easier and more convenient,” said Michael Kaplan, chief revenue officer and general manager, PayNearMe.