Walmart introduced Cashi in 2018, the year the company turned around and launched its omnichannel strategy. The intention of the firm was that its clients had a payment platform other than cash and that it did not require the use of a credit card. The mobile app can be used on Android and Apple devices and can also be used to pay at Walmart e-commerce.
Until now, Cashi allows its customers to make digital payments in its different online and physical stores, as well as pay for services, airtime recharges and request a credit and, in the near future, it will allow sending and receiving remittances. For now, it connects users with banks so they can access credit to buy in stores.
In 2022, Cashi closed with 5.4 million customers and for this year Walmart México will exercise resources for 23,100 million pesos, including the purchase of the fintech.
Among the benefits of using the application is that 2% of the total purchases are reimbursed in all the stores of the self-service chain, that is, for every 1,000 pesos purchased, 20 are discounted.
It is also possible to pay for fixed telephony and internet services from companies such as Telmex and Dish, and cable television, such as Sky, Total Play, Izzi, Megacable, Dish and Blue Telecomm. It also allows payments for services and platforms such as Netflix, Spotify, Uber, PlayStation and Xbox.
On March 7, the company reported that for this year it will use resources of 23.100 million pesos, an increase of 27% compared to the previous year. Part of this amount considers the purchase of a fintech, without disclosing the amount.