This could be a big deal for AmEx, which is fighting MasterCard (MA), Visa (V), and many of their third-party processors. Expect higher transaction volumes, built on cash deposits, not credit risk. There's an opportunity to make a new pitch to merchants -- especially if they add a branded mobile payment solution.
This is an even bigger deal for Walmart. The cards help fend off competition from Family Dollar (FDO) and Dollar General (DG) units that may be closer. AmEx is considered an upscale brand -- its credit cards are the default at Costco (COST), which caters to the upscale consumer.
As Walmart builds out its network of "Neighborhood Markets," which
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