PayPal and Walmart Team Up and Customers Can Soon Take Out Cash at Stores

    Author Chelsea RohPosted on Categories Credit ServicesTags , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
    PayPal Holdings

    PayPal Holdings, Inc. (NASDAQ:PYPL) just announced a huge collaboration today that left its stock closing in the green today, despite the Dow continuing to drop. PayPal and Walmart Inc. (NYSE:WMT) have agreed upon a partnership that will allow customers to use PayPal cash in and cash out services at Walmart stores.

    PayPal and Walmart

    This new PayPal cash in and cash out money service will cost customers a $3 service fee to use it.

    “Today’s news is the first time our two companies are working together to build products for our shared customers,” said Dan Schulman, President and CEO of PayPal. “We consider this a key collaboration for both PayPal and Walmart. We are committed to working together to make it simple and easy for people to use PayPal cash in and cash out money services at every Walmart location in the U.S. We look forward to working hand-in-hand to help people and families with their financial services needs.”

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    This is the first time customers will be able to take out cash from their PayPal accounts in a brick-and-mortar store. Customers currently can load their PayPal accounts at any Walmart store for a $3 fee.

    Customers will the PayPal Cash Mastercard will also be able to access their cash balance using either a cash register, ATM, or the service desk for the same fee.

    Both PayPal and Walmart expect to have all three services functioning in every store by November. It will only be available in US stores at this time.

    PayPal and Walmart Stock Movement

    According to Yahoo Finance, PayPal Holdings closed the market today at $75.90 a share, up $0.45 (0.60%). Walmart closed out the market in the red today at $93.92 a share, down -$1.84 (-1.92%). However, in the after-hours trading, it is seeing gains, selling at $94.20, up $0.28 (0.30%).

    This is a positive news for both companies, but with today’s downtrodden market, share prices haven’t reflected as such.

    Featured Image: DepositPhotos /© paulmhill

    Author Chelsea Roh
    About the author: Chelsea Roh is a freelance writer. Her current focus is blockchain technology and cryptocurrency. One could even call her a blockchain "enthusiast." In addition to content writing, she is an experienced SEO and Social Media Strategist. Before moving to Canada, she spent 10+ years marketing and working hands-on in the medical practice industry within the U.S.A.