PayPal at Walmart: Now Users Can Withdraw and Deposit Cash to PayPal in Store

Advertisement

Paypal at Walmart is a thing now and it gives customers easier access to their cash.

PayPal at Walmart: Now Users Can Withdraw and Deposit Cash to PayPal in Store

Source: Shutterstock

The introduction of this new service for PayPal (NASDAQ:PYPL) users marks the first time that they will be able to manage their money from a brick and mortar store. PayPal at Walmart (NYSE:WMT) will allow users to both withdraw and deposit money into their accounts.

Using the PayPal at Walmart service won’t be completely free. Instead, users will have to pay a $3 transaction fee each time they use it. The service is available for those using the PayPal mobile app and the PayPal Cash Mastercard.

Those looking to use the PayPal at Walmart service have a few options available to them. This includes having access to their PayPal accounts at Walmart’s service desks, ATMs and cash registers.

“With 90 percent of Americans living within 10 miles of a Walmart store, we know that offering PayPal cash in and cash out money services for an exclusive low fee is going to provide great value to the many people who rely on Walmart and PayPal to help manage and move their money,” Daniel Eckert, Senior Vice President of Walmart Services & Digital Acceleration, said in a statement.

Those looking to take advantage of PayPal at Walmart can immediately make deposits into their accounts from the retail chain’s stores. However, they will have to wait until early November before being able to withdraw cash from their PayPal accounts.

PYPL stock was up 1% and WMT stock was down slightly as of Thursday morning.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2018/10/paypal-at-walmart-launches/.

©2024 InvestorPlace Media, LLC