Walmart to offer cash online purchases

Wal-Mart announced today (April 26) a new “Pay with Cash” option for customers shopping on its e-commerce website Walmart.com. This new service will provide customers without access to credit or debit cards a broader selection of products that can be purchased with cash.

“Many of our customers shop paycheck to paycheck and are looking for more ways to purchase items online but don’t have the means to a credit, debit or prepaid card,” Walmart.com CEO Joel Anderson noted in a press release.

The company said it decided to offer the cash payment option as it notes only 15% of in-store transactions are paid for with credit cards. The retail giant also believes the cash option will benefit those with reservations about using their credit cards online.

The process to pay with cash works like this: Customers need to place an order on the website and choose the “cash” option when checking out. They then print a confirmation page, which will need to be brought to any Wal-Mart store or Neighborhood market within 48 hours. 

Once the customer makes the cash payment, the item will be shipped either to that store or to the customer’s preferred address.

Analysts say this is just one more example of how Walmart is working to grow online sales among its core customer base.

Walmart shares rebounded today trading at $59.21, up more than 3% in the early the afternoon session. Shares were pounded earlier this week on news of corruption that allegedly occurred in the company’s Mexican subsidiary, with cover-up implications linked to top Walmart corporate executives in Bentonville.

An investigation is underway both internally and by federal authorities in the United States and Mexico.