Walmart is the biggest chain of hypermarket, discount stores, and grocery stores, and recently, the retail chain has decided to collaborate with Ripple partners to create a new international money transfer marketplace. Walmart has agreed to extend its partnership with MoneyGram, and they have decided to launch this money transfer marketplace with its Walmart2World customers.
Note: Walmart2World is an international wire transfer service that offers flat fees and transfers within minutes across 200 countries all over the world.
Ria Money Transfer to be added as a transfer option
They have also decided to list Ria Money Transfer to be used to transfer international funds across the 4,700 U.S. stores. The agreement it had with MoneyGram will be extended until 2021. The ultimate goal of the platform is to increase the number of payout options and locations. The white-label platform, Walmart2World, made up about 9% of the total revenue that was earned by MoneyGram.
MoneyGram is uncertain about this new development of the marketplace by Walmart. Amid this, Juan Bianchi, CEO of Ria, expressed that the company was thrilled with this partnership with Walmart. Juan further added that this team-up would help their platform achieve an economical and transparent fund transfer option.
XRP price react differently
With this partnership news, the cryptocurrency pair XRP/USD price reacted negatively as the price further decreased from $0.3122 to $0.2990. The support for XRP is available at $0.2950 as the market notices a slight decline in the past 24 hours.