Wal-Mart MoneyCard: Wal-Mart planning to launch prepaid card for their customers

Retailing industry giant Wal-Mart is said to be working on plans to launch prepaid cards for their customers who do not have bank accounts.

This was reported in a news item in the Financial Times. This new product is likely to be named Wal-Mart MoneyCard.

It would be the next step from the company to expand their financial services for mostly low-income customers. They already have services like low-cost check-cashing and money-transfer services.

The company has not yet commented on this latest rumor in the market.

The report claimed that Wal-Mart would be working with GE Money for this card which would be powered by Visa technology.

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