Walmart adds immediate credit access to Walmart Pay
Credit card usage began expanding with the economy, and Walmart wants to ride that wave with several enhancements to its own credit cards, including near-instant access to newly issued credit accounts within its mobile payments app.
Customers approved for Walmart’s store-brand credit card or its Walmart Mastercard may now immediately use those accounts to pay via a virtual card within the Walmart Pay app, Walmart said in a Wednesday blog post.
Walmart Pay, launched a year ago, supports the new process for customers approved in stores or online. Synchrony Financial is Walmart’s credit card issuing partner.
Walmart last month introduced no-interest financing on purchases for up to 12 months, and currently is offering a 20% discount on new credit card users’ first online purchase.
In March, Walmart bumped up its payment card rewards to include 3% back on all items purchased online with its in-store credit card, the Walmart Mastercard or Walmart MoneyCard issued by Green Dot.
Walmart’s online sales rose 63% during the first quarter of this year, and to keep the momentum going, last week Walmart announced a pilot program for its employees to begin delivering online orders to customers.