Walmart: creates fintech to offer digital financial products

(CercleFinance.com) - Walmart said late on Monday that it will team up with investment firm Ribbit to offer next generation digital financial products to its customers.


The US retail giant announced the creation of a new fintech startup, which will be majority-owned and that will be designed to develop and offer "modern, innovative and affordable financial solutions."

The venture will benefit from both Walmart's retail scope and Ribbit's fintech expertise to deliver tech-driven financial experiences that are tailored to Walmart's customers and associates, the companies said.

Founded in 2012, Ribbit's owns no-fee mobile investment platform Robinhood; consumer technology platform Credit Karma; and Affirm, which provides payment options for customers

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