PayPal may have made its mark as a digital wallet but the online payment company will now let users withdraw cash from their PayPal digital wallet. Launched through a partnership with Walmart, PayPal users across the US will be able to take out money when shopping at any Walmart in the US. A deposit service will be charged for the transaction and will cost $3. This new initiative will also allow PayPal users the ability to check their PayPal digital wallet balances at Walmart service desks, ATMs, and cash registers.
According to Dan Shulman, PayPal's CEO, "Today's news is the first time our two companies are working together to build products for our shared customers." This partnership will offer an incredible sense of convenience as Daniel Eckert, senior vice president for Walmart Services & Digital Acceleration, stated that 90 percent of American "live 10 miles of a Walmart store."
Image Credit: David Paul Morris/Bloomberg
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