Retail in Asia

In Shops

Walmart opens 1,000th MoneyCenter, plans 500 additional stores

Walmart celebrated the grand opening of its 1,000th Walmart MoneyCenter in the US state of Louisiana last week as it gears up to add another 500 locations this year.

Walmart MoneyCenters are dedicated spaces within the store that offer customers a convenient place to handle basic financial needs such as cashing cheques, paying bills and transferring money. With the anticipated expansion into 500 more stores this year, there will be Walmart MoneyCenters in about 40 percent of Walmart’s 3,763 stores in the US.

Company estimates indicate that customers saved USD450 million in fees last year by using money services at Walmart.