Bankless Wal-Mart Seeks ‘Unbanked’ Consumers

In contrast to its recent moves to attract a more upscale clientele, Wal-Mart Stores will aggressively roll out a financial services program aimed primarily at lower-income customers.

BENTONVILLE, Ark. — In contrast to its recent moves to attract a more upscale clientele, Wal-Mart Stores will aggressively roll out a financial services program aimed primarily at lower-income customers. The announcement this week that it will install 1,000 MoneyCenter departments and offer a co-branded prepaid debit card follows the company's withdrawal in March of its application to create a banking entity. At the time, Wal-Mart had said that it wanted the bank to process credit and debit c

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