Is Walmart backing America’s next financial super-app?

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Is Walmart backing America’s next financial super-app?

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America’s biggest retailer is quietly getting into banking. After trying and failing to crack financial services a few times, is back at it with OnePay, which has 7 million customers, $50 billion in annual payment flow — and virtually zero in acquisition costs. Piggybacking on Walmart’s 1.5 million employees and 150 million customers, it thinks it can succeed where other fintechs have floundered. Liz and Rohan talk to CEO Omer Ismail to find out whether the big box titan can really compete with the big banks.

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Is Walmart backing America’s next financial super-app?

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Is Walmart backing America’s next financial super-app?

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