B2B Payments

Walmart Mobilizes B2B Procurement, Payments

A slew of new partnerships in India is helping Walmart become a B2B industry leader in mobile procurement. New reports published Tuesday (Aug. 4) said the mega-retailer has launched collaboration with several Indian companies, including local eCommerce service provider MartJack enterprise, mobile payments network MobiKwik, and customer management solutions company iEnergizer.

Altogether, the partnerships have helped Walmart launch its mobile service for SMEs across India to do their procuring through their mobile phones. Small business members of Walmart India’s Best Price program will now have access to the Best Price mobile app, allowing them to buy the items they need from Walmart’s Best Price Modern Wholesale locations throughout the country.

The partnership with MobiKwik allows these small businesses to pay for these goods through their mobile device, too. According to MobiKwik Founder and CEO Bipin Preet Singh, the partnership means the companies “are bringing the power of mobile payments to lakhs of small businesses and kirana stores in India.”

He added, “Members will also be able to load cash into their MobiKwikWallets to make purchases via the Best Pricemobile app.”

The app was developed by MartJack Enterprise, whose founder and CEO, Abhay Deshpande, called Walmart’s new initiative “a new wave in Indian B2B eCommerce industry.” It is available on Android smartphones, reports said.

According to Walmart Asia President and CEO Scott Price, the new app aims to give small businesses across India “a personalized and seamless shopping experience.” Walmart has revved up its B2B eCommerce efforts in the country this year already, but the Best Price mobile app marks Walmart’s first major mobile procurement strategy.

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New PYMNTS Report: The CFO’s Guide To Digitizing B2B Payments – August 2020 

The CFO’s Guide To Digitizing B2B Payments, a PYMNTS and Comdata collaboration, examines how companies are updating their AP approaches to protect their cash flows, support their vendors and enable their financial departments to operate remotely.

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