Wal-Mart banks on cashless society

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WalmartWal-Mart extends financial services to low-income customers. The world's largest retailer will sell prepaid payment cards at over 3300 of its discount stores in the U.S.

In the U.S., where 40 to 80 million people lack an account, unbanked workers spend over $300 in fees annually Visa estimates. The new prepaid card, as a quasi bank account, could lower this poverty penalty to $130.

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