Since December, Walmart has carried out a pilot test to grant credits of up to 6,000 pesos through its Cashi platform and mobile app.
The program is operating in 30 Walmart and Bodega Aurrerá stores throughout the Mexican Republic. The credits that the supermarket chain is granting allow customers to buy their items and pay for them later with a maximum amount of up to 6,000 pesos.
What is Cashy?
Cashi, an app available on Android and Apple, was launched by Walmart with the intention of providing customers with a payment tool other than cash. But without the need for consumers to have a credit card.
The volume of transactions made with the app is expected to grow to the extent that this means of payment is implemented in a general way and exceeds, in due course, the use of cash.
In this way, Walmart customers can buy their items when they are short of cash and without the need to use a credit card.
According to information from Forbes, Walmart will still continue to analyze the results of the pilot test, although they have observed “encouraging” results.
In addition, in an interview for The CEO, Cui Arroyo, Walmart’s vice president of e-commerce operations, explained that the more shopping options are diversified, both online and physically, the more the frequency of customer purchases increases.
With this option, Walmart enters a business that has been explored for years by other retail companies such as Elektra or Coppel.
Walmart Mexico profits increase in 2021
The retail giant Wal-Mart de México (Walmex), reported on Wednesday that its profits increased by 5.2% year-on-year in the fourth quarter, to 13,254 million pesos (646.3 million dollars).
The total income of Walmex WALMEX.MX, with operations also in Central America, totaled 214,571 million pesos in the period, 9.5% more than those reported between October and December 2020.
With information from Reuters.
