Walmart is making it significantly cheaper for its customers to send money to Mexico.
Customers can now send money from any Walmart store in the U.S. to any Walmart store in Mexico for as little as $2.50 per transaction through its Walmart2Walmart money transfer program – at least 50% lower than similar offerings on the market.
This game-changing low fee marks another major milestone for the retailer as it remains committed to providing more inclusive and affordable financial solutions for all customers, including unbanked or underbanked households that rely on services like wire transfers for everyday money management.
“We are thrilled to offer Walmart shoppers a convenient way to send money to their loved ones in Mexico at an incredibly low price,” said Julia Unger, vice president, Walmart Financial Services. “Our low-fee strategy demonstrates our commitment to continue improving the financial well-being of our customers around the world.”
Today’s announcement builds on the momentum of the original Walmart2Walmart money transfer service between the U.S. and Mexico, launched in 2016. That service paused in 2018 while the company invested in lowering prices and boosting the infrastructure to power today’s new service.
With remittances to Mexico up over 27% in 2021, Walmart’s relaunch of Walmart2Walmart Mexico is timely, enabling customers to use Walmart’s large network of stores to send money quickly and inexpensively at a time when cross-border payments are rapidly growing.
“We are delighted to collaborate with Walmart on this exceptional service, which provides customers price benefits and easier access to fast, safe and guaranteed money transfers to Mexico,” said Juan Bianchi, CEO of Euronet’s Money Transfer Segment. “Thanks to Ria’s scalable capabilities, coupled with Walmart’s large footprint, we can help Walmart offer unrivaled value and convenience to Mexicans living in the U.S. and their families back home in Mexico.”
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