PaymentsJournal
No Result
View All Result
SIGN UP
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
PaymentsJournal
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
No Result
View All Result
PaymentsJournal
No Result
View All Result

Patent Portends Walmart’s Payment Products Prospects

By Sarah Grotta
April 8, 2021
in Analysts Coverage, Banking, Credit, Debit, Emerging Payments, Prepaid
0
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Prepaid Card Trends by Age and Income:

Prepaid Card Trends by Age and Income:

Walmart filed a trademark patent as reported by Banking Dive that suggests Walmart is considering launching debit, credit, and prepaid banking products.  There aren’t many details as this is the patent for the brand name “H^zel by Walmart” as in “Hazel”, presumably the name of the super app that may contain banking and other services.

This patent doesn’t answer the questions who Walmart will market these services to, what will happen with its existing financial services offerings around prepaid card, card reloads, remittances and related services.  And it doesn’t yet tell us if Walmart will partner with a banks or acquire their own banking charter.  Here’s what we do know, according to the article:

The trademark filing lists several standard financial services Hazel might offer: credit card, debit card, and prepaid card payment processing services, electronic funds transfer, credit card and credit line issuing, bill payment services.

It veers into banking, listing financial services, banking services, online banking services, and lending.

And it hints at an aim to capture market share across the wealth spectrum, from services associated with more well-heeled clients (financial portfolio analysis services, financial research and information services) to people who are less well-off (credit repair and restoration, credit and financial consultation).

The retailer has been fairly tight-lipped about its fintech venture, saying in January that it would “develop and offer modern, innovative and affordable financial solutions” and “bring together Walmart’s retail knowledge and scale with Ribbit’s fintech expertise to deliver tech-driven financial experiences tailored to Walmart’s customers and associates.”

Here’s a link to the patent.

Overview by Sarah Grotta, Director, Debit and Alternative Products Advisory Service at Mercator Advisory Group

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Tags: Bill PaymentCredit CardsDebit CardsFinancial ServicesH^zelPrepaid cardsWalmartWalmart Pay

    Get the Latest News and Insights Delivered Daily

    Subscribe to the PaymentsJournal Newsletter for exclusive insight and data from Javelin Strategy & Research analysts and industry professionals.

    Must Reads

    embedded lending

    Embedded Lending as a Growth Strategy for ISVs—How to Maximize Revenue Potential

    June 18, 2025
    merchant ai

    Merchants Find More Use Cases for AI Amid Risks

    June 17, 2025
    prepaid payroll

    Taking the Check Out of Paycheck: The Role of Prepaid in Payroll

    June 16, 2025
    Banking-as-a-service BaaS

    Remodeling Main Street: How Community Banks Can Leverage the Banking-as-a-Service Paradigm

    June 12, 2025
    How Employee Performance Enhances the Customer Experience

    Three Strategies to Maximize Loyalty in the AI-Driven World 

    June 11, 2025
    PFM tools

    How FIs Are Cutting Through Subscription Clutter with PFM Tools

    June 10, 2025
    child identity theft

    Stranger Danger: Protecting Your Children from Identity Theft

    June 9, 2025
    agentic commerce

    The Agentic Advent: How the Next Iteration of AI is Shaping Commerce

    June 6, 2025

    Linkedin-in X-twitter
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter

    ©2024 PaymentsJournal.com |  Terms of Use | Privacy Policy

    • Commercial Payments
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    No Result
    View All Result