The latest? An international money wiring service called Walmart2World, in conjunction with MoneyGram International Inc. (MGI) - Get Report . The service will launch in every Walmart store in the U.S. this month, the company announced Tuesday, April 3.
The service charges a flat fee depending on the amount of money wired, which differs from other global wiring services that charge fees based on the location to which the money is wired, Walmart said.
"There are millions of people sending money around the world to help loved ones with everyday needs or in times of emergency," Walmart Services vice president Kirsty Ward said in a statement. "We think sending money should cost the same regardless of where you send it; that's why we've designed a brand-new global wire service to send money to 200 countries with a consistently low fee."
Ward points to the prevalence of remittances, or the money sent home by migrants working abroad. In 2016, global remittances totaled $574 billion, according to data from the World Bank. Typically, the money flows from developed countries like the U.S. to developing countries like China and Honduras.
Walmart2World would also differ from some other wiring services in speed — that money will be delivered "in 10 minutes or less" of sending it, rather than in a few days, Walmart said.
MoneyGram, which is based in the U.S., nearly came under the possession of Chinese e-commerce giant Alibaba Group Holding (BABA) - Get Report , which won a bid for the operation for $1.2 billion. The U.S. government blocked the deal earlier this year, however, because of the changing geopolitical environment, according to MoneyGram CEO Alex Holmes.
The Bentonville, Ark.-based chain made larger waves Tuesday, nonetheless, with reports that it's considering purchasing a pharmaceutical delivery startup for under $1 billion. PillPack, based in Cambridge, Mass., sorts and packages medicine. Its acquisition would go hand in hand with another one of Walmart's rumored pursuits: buying out Humana Inc. (HUM) - Get Report , the major health insurance company.
Walmart isn't the only retailer pursuing the money-managing space. Amazon.com Inc. (AMZN) - Get Report is reportedly in talks with banks like JPMorgan Chase & Co. (JPM) - Get Report and Capital One Financial Corp. (COF) - Get Report to create a "checking-account-like" product, the Wall Street Journal reported earlier this month. Walmart's experience, though, runs a little deeper. In the 1990s, it unsuccessfully registered to be a savings and loans institution, and tried in 2005, to no avail.
Walmart shares were up 1.5% Tuesday afternoon at close, trading at $86.80.