The stock of Wal-Mart Stores Inc (NYSE:WMT) closed at $88.95 gaining 0.27% in yesterday’s trading session. If everything moves according to plan, Walmart pay might end up surpassing Apple Inc (NASDAQ:AAPL) in the U.S Mobile payments. The fact that quite a significant number of people shop online using their smartphones is giving the world’s giant retailer even more clout.
The senior vice president for services and digital acceleration, Eckert, through a statement outlined that they were getting pretty close. It would be working to their advantage if the daily enrollments didn’t slow down.
The chief executive officer of researcher Crone Consulting LLC, Richard Crone, gave his estimates citing that Walmart was set to surpass Apple Pay in active U.S. users. That is most probably those that manage to make about two transactions on a monthly basis.
Apple Pay has been rather strict since its introduction and most of the merchants understand that they need the right hardware at checkout. It was rolled out back in 2014 and the provider takes great pride in the fact that it has managed to attract top retailers.
Over the years, Apple hasn’t been tracking individual consumers’ transactions and that has led to reluctance to use it among quite a large number of investors.
Wal-Mart’s spokesperson opined, “As the world’s largest retailer, you can imagine that we have conversations with a variety of companies about products and services that we think would be of interest to our customers, and Apple, as big of a company as they are, is one of those companies.”