B2B Payments

Risk Compliance Division Signs Contract With Walmart

Ebix, Inc an international supplier of On-Demand software and E-commerce services to the insurance, financial and healthcare industries announced that the Company's Risk Compliance Solutions -- RCS Division signed a contract with Walmart Canada Corporation to monitor and track certificates of insurance for Walmart. The implementation of the contract, was already put in production for Walmart.

Walmart is the largest retailer in Canada with more than 370 stores and 90,000 associates and deals with thousands of vendors, contractors and suppliers who provide a variety of products and services. The contract requires Ebix to manage, validate and monitor insurance coverage's that Walmart requires from its vendors, suppliers and contractors as a requirement for doing business with Walmart.

Walmart will now be able to monitor each vendor/supplier/contractor's insurance compliance status anytime. The solution will mitigate risk for Walmart while increasing overall processing efficiencies.

Ebix Corporate Vice President Rahul Raina said, "We are honored to add the largest retailer in the world to our list of prestigious clients. Using our expertise spread across more than 26 industry verticals, we are confident that we can help Walmart to fine-tune its risk compliance approach and bring increased operating efficiencies to the fore. We intend to ensure that we can make the experience a smooth and efficient one for both Walmart and its thousands of vendors, contractors and suppliers."

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The September 2020 Leveraging The Digital Banking Shift Study, PYMNTS examines consumers’ growing use of online and mobile tools to open and manage accounts as well as the factors that are paramount in building and maintaining trust in the current economic environment. The report is based on a survey of nearly 2,200 account-holding U.S. consumers.

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