Wal-Mart Strikes Again

Posted on | January 13, 2009 | No Comments

As predicted, Wal-Mart is already begin to spread its brand of business into yet another fragmented industry.  This time it’s check cashing, a field once dominated by thousands of mom-and-pop operators in low-income neighborhoods.  Wal-Mart is doing what it does best, offering competition-smashing cheap-o-deluxe deals on services.  Wal-Mart is offering to cash payroll, government and tax refund checks for a mere $3.

Others in the industry charge fees up to five times higher (between 1% and 5% of the check value).

Wal-Mart will undoubtedly score big with this offering, if for no other reason than marketing muscle.  Competitors would do well to match the offer or add additional services for a slightly higher fee.  Either way, check cashing customers will benefit.

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