Wal-Mart to unveil new service with electronic payments provider

NEW YORK Wed Apr 16, 2014 6:20pm EDT

A man stands on a skateboard outside a Wal-Mart store in Williston, North Dakota March 13, 2013. REUTERS/Shannon Stapleton

A man stands on a skateboard outside a Wal-Mart store in Williston, North Dakota March 13, 2013.

Credit: Reuters/Shannon Stapleton

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NEW YORK (Reuters) - Wal-Mart Stores Inc said on Wednesday that it will announce a new service with electronic payments provider Euronet Worldwide Inc on Thursday, but gave no other details.

Neither Wal-Mart, the world's largest retailer, nor Euronet, would comment ahead of a conference call for media, investors and analysts on Thursday morning.

Euronet, based in Leawood, Kansas, said in its most recent annual report that its main offerings were automated teller machine and point-of-sale services, card outsourcing and card- issuing services, as well as electronic payment products and money transfer services.

Wal-Mart U.S. last year got about 1 percent of annual sales from financial services such as money orders, prepaid cards, wire transfers, check cashing and bill payments, according to its latest annual report.

(Reporting by Phil Wahba in New York; Editing by Jan Paschal)

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