Wal-Mart Stores Inc. has joined the Jeanie electronic funds transfer network owned by Fifth Third Bancorp's processing solutions unit.
The Cleveland banking company, which announced Wal-Mart's sign-up Friday, says Jeanie is the sixth-largest EFT network in the United States, with 9 million cardholders and 14,000 merchant acceptance locations.
Wal-Mart and Sam's Club stores will begin accepting Jeanie PIN-based transactions beginning Feb. 1.
The Bentonville, Ark., retailer announced last month that Sam's Club would stop accepting Visa and MasterCard payments this year. Next month Wal-Mart will also stop accepting signature-based MasterCard debit transactions.
