It has recently been announced that Walmart has partnered with its Walmart2World customers to create an international money transfer marketplace. They plan on doing this by extending its existing deal with MoneyGram and adding Ria to transfer international funds at any of the big box retailer’s 4700 U.S stores.

According to Walmart, this move will provide more payout options and locations and a competitive foreign exchange rate. The company claims their ultimate goal for launching Walmart2Walmart and Walmart2World was to create a platform with money transfer principles that will provide more options to customers when transferring money to friends and family around the world.

The company has extended its existing partnership with MoneyGram until 2021 as part of the development. After this, the company claims their next move is to add Ria, a partner of Ripple, money transfer to the platform. They believe this will create a competitive platform for exchange rates that help to provide more `value to its delivery.

MoneyGram acknowledges in their announcement that the white label Walmart2World product represented a significant percentage of its total revenue in the third quarter. However, MoneyGram is yet to know how much this new move would influence its business. The CEO of Ria financial services, Juan Bianchi, expressed the company’s excitement about Walmart’s intentions to expand its money transfer services with them. He said the partnership would provide more choice and the most economical and transparent money transfer option

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