The giant retailer will go head to head with Western Union and Moneygram in a market worth about $900 billion. But Wal-Mart says it will offer lower fees.
Copyright NPR. View this article on npr.org.
RENEE MONTAGNE, HOST:
NPR's business news starts with wiring from Wal-Mart.
(SOUNDBITE OF MUSIC)
MONTAGNE: The giant retailer is taking another step into banking. The company says it's launching a money transfer service next week. It'll go head-to-head with Western Union and MoneyGram, in a market worth about $900 billion. But Wal-Mart says it will offer lower fees. Western Union and MoneyGram's stock both dropped on the news. Transcript provided by NPR, Copyright NPR.