Walmart's new fintech will have a Superstore marketing platform – Business Insider

The retail giant is working with investment firm Ribbit Capital—which has previously backed popular fintech startups such as Robinhood, Affirm, and Credit Karma—to create a fintech startup with the goal of expanding its affordable financial services offerings for employees and customers, The Wall Street Journal reports.
The retailer did not reveal a launch date or product details, though it said future growth for the fintech startup may come from partnerships with and acquisitions of leading fintech companies, per the Journal.
Walmart has dabbled in financial services offerings in the past, which are geared toward making financial products more accessible:
While Walmart will face the universal digital bank challenge of distinguishing itself from competitors, it may have an easier time getting its marketing in front of a wide range of prospective customers. The US fintech environment is crowding, with alternative lenders like SoFi and neobanks like Chime and Varo taking up much of the oxygen.
While Walmart will have its work cut out in finding a competitive edge on these fintechs in terms of its actual offerings, one area where it will have a built-in advantage will be in marketing. Its 4,748 Walmart stores and 599 Sam’s Club stores in the US give it ample space in which to display advertisements for any fintech products it launches to a wide audience. Additionally, it can try cross-selling fintech innovations to users of MoneyCard to further drive exposure.
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