Wal-Mart launches its own mobile payment system with Walmart Pay

Convenience giant Wal-Mart Stores will become the first U.S. retailer with its own payment feature with the launch of ‘Walmart Pay’.

Walmart Pay was introduced in selected stores this week and will be tested in other locations after the holiday season, reported Reuters.

The largest retailer in the world has launched the new mobile payment app in the effort to expand consumer payment options and increase the speed of checkouts. Company executives hope that the free service will be available nationwide by the first half of 2016.

Reuters described the functioning of the app: “The feature requires customers to choose Walmart Pay within the retailer's mobile app at a checkout counter, activate their phone camera and scan the code displayed at the register after which an e-receipt will be sent to the app.”