Web

Can Walmart gain an online advantage over Amazon by simply accepting cash?

Walmart Cash Online purchases

Announced on the Walmart Corporate site earlier today, the company has launched a new program that allows consumers to purchase an item online and drive to a nearby Walmart location to pay the bill in cash. Since the retailer’s online portal has a vastly larger inventory than any single Walmart store, consumers can purchase items that are not currently available within the immediate area without having to use a credit card. When the order is placed online, the customer selects the “Cash” option under payments and makes note of the order number.

Walmart supercenter Within the next 48 hours, the customer stops in at any Walmart location and gives the order number to a cashier in the store. It’s also possible that Walmart stores outfitted with automated checkout machines will include an order completion option in a future update to the mashine’s software. 

After the order has been paid for with cash, the order ships out to the customer’s home or to a nearby Walmart store if the customer chooses the “Site to Store” option. If the order has been shipped to the store, the customer will receive a text or email regarding availability once the product arrives. 

According to a 2009 survey conducted by the FDIC, 7.7 percent of U.S. homes don’t have any bank accounts and are classified as “unbanked.” In addition, 17.9 percent are classified as “underbanked” which means the household has at least one checking or savings account, but relies on alternative financial services like check cashing services, non-bank money orders, pawn shops or payday loans. However, 63 percent of underbanked households and 81 percent of unbanked households have Internet access within the home. This means approximately 17.5 percent of U.S. homes containing about 40 million adults rely mostly on cash and use the Internet, thus they may prefer this new online shopping option.

Walmart Shopping CheckoutAccording to Walmart’s internal data, only 15 percent of all transactions at the store are processed through credit cards. The overwhelming majority involve either cash, check or debit card. According to Walmart.com CEO Joel Anderson, he stated “Many of our customers shop paycheck to paycheck and are looking for more ways to purchase items online but don’t have the means to a credit, debit or prepaid card.”

Anderson continued “Our new ‘Pay with Cash’ offering is designed just for them. It makes it easier for our customers to shop the way they want, where they have access to a broader product selection at Walmart.com coupled with the convenience of payment and shipping as they want.”

In order to compete with this new pay-by-cash program, online-only retailers like Amazon would have to partner with a company that has a large amount of retail locations within the United States. Amazon could potentially expand its ongoing relationship with 7-Eleven in regards to the in-store storage locker program launched during September 2011. Beyond providing lockers for Amazon customers that prefer to have packages delivered to a secure location instead of being left at the front door, Amazon could hypothetically upgrade the terminals to include an automated method to accept cash for recent Amazon purchases. However, the machine would likely need to receive a hardware upgrade to physically accept cash and 7-Eleven would have to benefit financially from the expanded relationship, thus cutting into Amazon’s total profit. 

Smart Home

Here’s everything you need to know about Amazon Prime Pantry

The marvels of the Internet have made it possible to do all your shopping from the comfort of your living room. Amazon Prime Pantry allows you to buy groceries and household items online. Here's more info about the service.
Deals

Suck up the savings with these vacuum cleaners on sale for $100 or less

Keeping your floors clean around the home is a constant chore. To help make things a whole lot easier, we've picked out 12 great vacuum cleaner deals available on Amazon right now, from full-sized upright models to robot vacs.
Deals

The best accounting software for your small business

Small business owners looking for accounting software have a variety of options at their disposal. And this guide will help them find the best solutions, from Quickbooks Online and Freshbooks to AccountEdge and Zoho Books.
Movies & TV

Never miss a moment of the NBA season with our streaming guide

The NBA season is in full swing, and if you want to watch games online, you've got plenty of options. Here's our guide to the best ways to watch NBA games online, as well as some additional resources.
Mobile

Pixel 3, Home Hub, and Pixel Slate — our first look at all Google’s new devices

Google has taken the wraps off of a slew of new devices, including the Pixel 3 smartphones, Google Home Hub smart display, Google Pixel Slate tablet, and more. We were at the event, and took a ton of photos of all of Google's new products.
Music

Spotify vs. Pandora: Which music streaming service is better for you?

Which music streaming platform is best for you? We pit Spotify versus Pandora, two mighty streaming services with on-demand music and massive catalogs, comparing every facet of the two services to help you decide which is best.
Mobile

PayPal will soon let you withdraw cash at Walmart, but there’s a catch

PayPal has teamed up with Walmart to allow its account holders to withdraw and deposit cash at the store. The service launches at all Walmart stores across the U.S. in early November, but there's a catch.
Computing

Here's how to download a YouTube video to watch offline later

Learning how to download YouTube videos is easier than you might think. There are plenty of great tools you can use, both online and offline. These are our favorites and a step by step guide on how to use them.
Cars

Carbuying can be exhausting: Here are the best used car websites to make it easier

Shopping for a used car isn't easy, especially when the salesman is looking to make a quick sale. Thankfully, there are plenty of sites aimed at the prospective buyer, whether you're looking for a sedan or a newfangled hybrid.
Computing

How to recover Google contacts

If you accidentally deleted an important person from your Google Contacts, they might not be lost forever. Recovering them is a fairly easy process -- as long as you do it quickly. Here's how.
Computing

Afraid that Bitcoin could be a bubble? Here's how to sell what you've got

If you're investing in cryptocurrencies, it's important to have your exit strategy in place if prices start to crash. If you've decided it's time to get out or just want to learn how to sell Bitcoins, here's how to get started.
Computing

Don't take your ISP's word for it: Here's how to test your internet speed

If you're worried that you aren't getting the most from your internet package, speed tests are a great way to find out what your real connection is capable of. Here are the best internet speed tests available today.
Movies & TV

'Prime'-time TV: Here are the best shows on Amazon Prime right now

There's more to Amazon Prime than free two-day shipping, including access to a number of phenomenal shows at no extra cost. To make the sifting easier, here are our favorite shows currently streaming on Amazon Prime.
Computing

Your ‘Do Not Track’ tool might be helping websites track you, study says

New research from the "Do Not Track" features embedded in popular browsers are being ignored, opening up the possibility of consumers having their information targeted by specific ads based on their web histories and cookies.