Federal regulators have offered new details in a legal action involving Walmart’s money-transfer operations. The Federal Trade Commission (FTC) announced Friday (June 30) that it had amended its year-old complaint against the retail giant, which involves the company’s alleged violation of federal telemarketing sales rules. “According to the amended complaint, Walmart for...
Could Walmart’s Indian eCommerce and payments operations become $100 billion businesses? The retailer’s chief financial officer seems to think so, Reuters reported Wednesday (June 14). The businesses in question — eCommerce platform Flipkart and payments provider PhonePe — have been cited by executives as playing...
The megaretailer’s new price labeling system has some consumers crying foul, but many more customers seem unfazed. Walmart has recently been making waves on social media over its incremental introduction of an in-store digital price tag system, replacing the traditional printed versions. The search term “Walmart...
Walmart plans to double its overseas gross merchandise volume to $200 billion in five years. “It is a pretty ambitious target,” said Judith McKenna, Walmart International’s CEO, whose comments were reported Friday (June 2) by Reuters. “The markets that we have today have plans to...
Walmart has opened its second Market Fulfillment Center (MFC) powered by a proprietary storage and retrieval system. The new MFC opened in Bentonville, Arkansas, on Monday (May 22) following a proof-of-concept that was launched in Salem, New Hampshire, in January 2020, Walmart said in a Monday press release. Both...
Walmart has won a rare eCommerce victory over Amazon thanks to its Indian business. As the Financial Times (FT) reported Saturday (May 20), Walmart’s $16 billion purchase of majority ownership of Indian online retailer Flipkart in 2018 was initially criticized, but Walmart has been vindicated. “Did Walmart overpay for...
No matter the economic climate, no matter where interest rates stand — everyone’s got to eat. For the online retailing and eCommerce behemoths, earnings season is showing just how important groceries, as a category, have become. That’s especially true for Walmart, which will report earnings Thursday morning (May...
Walmart of Mexico and Central America (Walmex) is reportedly looking to expand the capabilities of its digital wallet. The company said it expects to add transfers, withdrawals and remittances, possibly expanding to loans and other financial services further in the future, to the Cashi digital...
Walmart has reportedly sued Capital One to end a 4-year-old credit card partnership. According to published reports Friday (April 7), the retail giant accuses the bank of failing to live up to its customer care standards. The companies announced a partnership in 2018, though it...
