Walmart Diversification Goes Into Overdrive With Goldman Hires

Walmart Diversification Goes Into Overdrive With Goldman Hires

Already Walmart has something of a competitor to digital “neobank” startups in the form of MoneyCard, which can take direct deposits and describes itself as “the only card for all your banking needs.” Reaching the unbanked is key, though also risky. John Zolidis, president of Quo Vadis Capital, estimates that around one-quarter of Walmart customers don’t have a bank account and that half don’t have access to credit.

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