Wal-Mart Money Card
By: Whitney Ray
Updated: June 6, 2007
Wal-Mart isnt backing reports about a new prepaid money card. The Financial Times posted an article about the product in an on-line addition. The article claims Wal-Mart has partnered with GE Money, a unit of General Electric Company. According to the Financial Times the Wal-Mart Money Card would carry the Visa logo.
The article claims a pilot program is in the works and could come as early as this month. Last year Wal-Mart officials were looking to opening a specialty bank. The company withdrew that request earlier this year. Still, the Money Card maybe a step in that direction. The Finical Time reports Wal-Mart wants customers to use the cards as quasi bank accounts to access a range of financial services.
