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New Wal-Mart money service rattles payments sector

Apr. 17, 2014 10:06 AM ETWalmart Inc. (WMT) StockBy: Clark Schultz, SA News Editor11 Comments
  • Wal-Mart (NYSE:WMT +0.2%) announces the launch of Walmart-2-Walmart Money Transfer Service at more than 4K of its stores in the U.S. The company is partnering with Euronet (EEFT +4.2%) on the initiative.
  • The money transfer service is significantly cheaper than alternatives, according to Wal-Mart.
  • Sector watch: Shares of Western Union (WU -5.8%), Xoom (XOOM -2.7%), Green Dot (GDOT -1.8%), and Moneygram (MGI -15.4%) are getting smacked around a little bit off the development.

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