Shasin Hamal's Blog

Walmart and American Express have a new prepaid card, the Bluebird, which will be available in the US next week.  Not requiring any minimum balance requirements, monthly or annual fees, or deposit fees, it is an excellent choice for customers.

Walking in Walmart with the Bluebird will be the same as going to a bank.  The cashiers will now be able to do transactions as a teller would in a bank.  The card can be used in more than 4,000 Walmarts in the US, and in any ATMs in the MoneyPass  network without any charges.  However, charges of $2 per transaction apply in other ATMs.

Walmart and American Express both benefit from the partnership.  American Express is now approachable by low income customers rather than rich ones only, and Walmart will receive customers for American Express.  Also, the “Always Low Prices” of Walmart’s is a perfectly fit motto for such a card which targets low income people.  Green Dot Corporation, a provider of prepaid cards, has their shares already drop 20% from the introduction of the Bluebird.  I won’t be surprised if customers from Target’s stores start their purchase at Walmart, and prepaid customers of MasterCard and Visa have the Bluebird in their wallets.  Hopefully, the Bluebird “flies” to Canada soon.  The difference is on!

External Links and Resources:

http://www.reuters.com/article/2012/10/08/us-walmart-amex-idUSBRE8970H520121008

http://www.ottawacitizen.com/business/Mart+Amex+take+banks+with+priced+debit+card/7359935/story.html

http://localtvwiti.files.wordpress.com/2012/10/wal-ex.jpg?w=400

http://abcnews.go.com/images/Business/ht_bluebird_card_jp_121008_wblog.jpg