Walmart updates app to ease money transfers

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Walmart is making its money transfer business digital.

The megaretailer is set to announce Tuesday that it is updating its app to allow its customers to input money transfer information electronically rather than having to fill out paperwork in the store. Once they arrive at the store, customers can then use an express line to process their transfers.

There, they scan a code at the register, verify the information and pay.

The new features will be rolled out to Walmart customers starting in March and the company said in a press release that it should be available in nearly all of its 4,700 stores by fall. The express lanes will be at nearly 1,200 stores that offer money services. The remaining stores will continue to process transfers at the customer service desk.

Despite its thwarted efforts to obtain a banking charter, Walmart has developed an extensive suite of financial products, including transfers, prepaid debit cards and credit products.

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